Phillips 66 forecasts up to $1B in derivatives losses as oil prices rise

Phillips 66 forecasts up to $1B in derivatives losses as oil prices rise.

• Joe_Potato/iStock Editorial via Getty Images Phillips 66 (PSX) said Mondayits Q1 results were smacked by a sharp increase in ‌commodity prices, leaving it with as much as $1B in pre-tax mark-to-market losses, according to an8-K filing, as the Middle East war