Phillips 66, Marathon Hit Records on Buybacks: Dallas Mover
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Refiners including Phillips 66 and Marathon Petroleum Corp. reached record highs as they beat earnings estimates and promised to turn an abundance of cheap U.S. oil into a boon for shareholders.
Phillips 66, the largest U.S. independent refiner by revenue, rose 1.5 percent to $60.76 at the close in New York. Marathon Petroleum gained 1.3 percent to $72.89, the highest since June 2011.