Phillips 66 stock hits 52-week high as pipeline deal adds to rally

Phillips 66 (PSX) stock reached a new 52-week high of $242.98, trading around $240.86 on Tuesday. The stock has been on an upward trend for seven consecutive sessions, gaining 7.53% in the past week and an impressive 85.02% year-to-date, significantly outperforming the broader market. This rally is attributed, in part, to a recent pipeline deal.