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PSX - Phillips 66 Is Particularly Exposed To The Resumed Coronavirus Spread
Phillips 66
Merchant refiner Phillips 66 (PSX) was hard-hit by the coronavirus-induced lockdown orders that went into effect last March, and its share price fell by more than 50% over the course of Q1 (see figure). The lifting of those same lockdown orders prompted the company's share price to recoup most (if not all) of its losses between April 1 and June 8 as refined fuels demand rebounded strongly. The last three weeks of June saw the earlier rally rapidly fade, though, and Phillips 66's share price remains down by almost 40% in 2020 YTD