Phillips 66 (PSX -2.4%) has been "badly affected" by Hurricane Sandy, so Deutsche Bank...

|About: Phillips 66 (PSX)|By:, SA News Editor

Phillips 66 (PSX -2.4%) has been "badly affected" by Hurricane Sandy, so Deutsche Bank downgrades shares to Hold from Buy over weather and related shortage impacts on northeast U.S. oil markets that comprise 27% of U.S. oil demand and 6% of global demand. Only HollyFrontier (HFC +1.4%) remains rated at Buy among big refiners covered by the firm.