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Marathon Petroleum Tops Estimates Despite Earnings Slump

Summary by Oil Price
Marathon Petroleum Corp (NYSE: MPC) beat the analyst consensus for its third-quarter earnings by a mile, despite the expected slump in profits due to plunging refining margins. All U.S. refiners were expected to report much lower profits for the third quarter compared to a year earlier, as refining margins slumped to multi-year lows amid tepid fuel demand and increased global fuel supply. On Tuesday, Marathon Petroleum joined the other major U.S…
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