Citigroup cut its ratings on three petroleum refiners, giving two of them sell ratings, and putting pressure on all of the shares.
The firm downgraded both
to to sell from hold, and
was lowered to hold from buy.
After the move, Tesoro was down 4.8% at $55.16. Valero was losing 3.6% to $71.97, and Sunoco was dropping 2.7% to $78.20.