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Thursday, April 28, 2016
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Profit plunges for Marathon Petroleum
Oil refiner Marathon Petroleum Corp. has eked out a profit in the first quarter, hurt by a weak difference between the prices of crude oil and refined products, know as a crack spread. The Findlay Fortune 500 company said today that its first quarter profit was $1 million, or less than 1 cent a share, compared with a profit of $891 million, or $1.62 a share, for the same period a year ago.
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