Phillips 66 shares fall 1.60% premarket after BofA downgrades to Neutral due to refinery operational issues.

Phillips 66 fell 1.60% in premarket trading, following a downgrade by BofA from Buy to Neutral. The downgrade was attributed to operational issues at Phillips 66's Borger refinery and Citgo's Corpus Christi refinery, which reported a sudden unplanned shutdown due to the loss of a control valve, resulting in flaring and carbon monoxide emissions.