UPDATE 1-Refiner Phillips 66 beats quarterly profit estimates
(Adds details on results from paragraph 2)
Jan 31 (Reuters) - Refiner Phillips 66 beat quarterly profit estimates on Wednesday, helped by sustained fuel demand and strong performance in its midstream and chemicals unit.
Global fuel supplies have remained constrained despite a rise in refining capacity, due to production cuts by OPEC+ countries and the Russia-Ukraine war.
Rivals Valero Energy and Marathon Petroleum have also topped Wall Street's expectations with stronger-than-expected margins.
Earnings from Phillips's chemicals segment more than doubled, to $106 million.
The company said its realized margins fell to $14.41 per barrel in the second quarter, from last year's $19.73 per barrel for the same period.
The Houston, Texas-based refiner reported adjusted earnings of $3.09 per share, compared with analysts' average estimate of $2.35 per share, according to LSEG data. (Reporting by Sourasis Bose in Bengaluru; Editing by Pooja Desai)
