Citigroup Downgrades Refiners

Tesoro, Valero and Sunoco all fall.
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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

Tesoro

(TSO)

and

Valero

(VLO) - Get Report

to to sell from hold, and

Sunoco

(SUN) - Get Report

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.