Shares of refiner Phillips 66 (PSX.N) were up about 2% at $209.90 in premarket trading.
The company beat second-quarter profit estimates, helped by higher refining margins as ongoing tensions in the Middle East boosted demand for U.S. fuel exports.
It posted adjusted profit of $9.41 per share versus estimates of $7.44 per share, according to LSEG data.
PSX's realized margin rose to $24.08 per barrel in the quarter, compared with $11.25 per barrel a year earlier.
As of the last close, PSX was up 59.5% year to date.
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