Feb 21 (Reuters) - HF Sinclair (DINO.N) , opens new tab beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by stable refining margins and resilient fuel demand.

U.S. refiners' earnings normalized throughout last year, after hitting sky-high levels in 2022, when Russia's invasion of Ukraine disrupted crude supplies.

Fuel demand sustained as supplies remained tight on production cuts by OPEC+ countries despite an increase in global refining capacity.

Bigger rivals Valero Energy (VLO.N) , opens new tab, Marathon Petroleum (MPC.N) , opens new tab and Phillips 66 (PSX.N) , opens new tab also beat market expectations, aided by stronger-than-expected margins.

HF Sinclair's consolidated gross refining margin fell to $13.88 per barrel of throughput in the fourth quarter, from $23.47 a year earlier.

The fall in crude prices through 2023 has capped refining margins, which touched record levels in 2022.

HF Sinclair's refinery throughput in the fourth quarter fell marginally to 664,390 barrels per day (bpd), while utilization stood at 90.6% compared with 92.7% a year earlier.

The Dallas-based company reported loss of 34 cents per share in the October-December quarter, compared with a profit of $2.92 per share a year earlier.

It, however, posted an adjusted profit of 87 cents per share for the quarter, compared with analysts' estimates of 72 cents per share, according to LSEG data.

Last week, smaller rival PBF Energy (PBF.N) , opens new tab posted a surprise loss in the fourth quarter as its margins plunged.

https://www.reuters.com/business/energy/oil-refiner-hf-sinclairs-fourth-quarter-profit-beats-estimates-2024-02-21/