New York, Jan 18, 2026, 10:26 EST — Market closed.
- Exxon Mobil wrapped up Friday trading roughly 0.6% higher, closing at $129.89 just ahead of the extended U.S. weekend.
- Crude finished up on Friday, providing support for major oil stocks heading into next week. 1
- Traders have marked their calendars for two major events: U.S. inflation figures due Jan. 22 and Exxon’s Q4 earnings report set for Jan. 30. 2
Exxon Mobil shares finished Friday just above their previous close, settling at $129.89 after a volatile session that held the stock close to the $130 mark.
The next step is uncertain, caught in a gap. U.S. markets remain closed Monday for Martin Luther King Jr. Day, pushing energy stocks to trade on headlines alone as investors brace for Tuesday’s return. 3
Exxon’s stock still moves closely with crude prices, despite its refining and chemicals businesses. With this week shortened by a holiday, swings can get amplified—especially when oil prices react to geopolitical shifts.
Exxon’s shares fluctuated from $128.87 to $130.16 on Friday, closing with a 0.59% gain. Chevron nudged upward, but a few refiners fell behind. 4
Oil finished the week higher. Brent closed at $64.13 a barrel, while U.S. crude ended at $59.44. Some traders were buying back bearish positions—“short covering”—ahead of the extended weekend. Phil Flynn, senior analyst at Price Futures Group, noted, “Buying today seems to be people not wanting to be caught short over the long weekend.” Meanwhile, Priyanka Sachdeva, analyst at Phillip Nova, pointed out that “the underlying balance still points to ample supply.” 1
Exxon knows this balancing act well. Rising crude prices usually boost upstream profits, yet investors are keeping an eye on whether product margins ease following a solid streak in some refining segments.
Exxon has a key date coming up. The company plans to report its fourth-quarter 2025 results on Jan. 30, followed by an earnings call that same morning. CEO Darren Woods and top finance executives will lead the discussion. 5
The stretch until then gives oil a chance to take center stage. Traders will watch closely for new clues on Iran and supply prospects, while Venezuela lingers as a potential wildcard for extra barrels.
Macro factors add to the strain. The Bureau of Economic Analysis has set Jan. 22 to publish the next core Personal Consumption Expenditures price index — or “core PCE,” the Fed’s preferred inflation measure that excludes food and energy to offer a clearer view. 2
The risk for Exxon is clear: oil prices could drop sharply if geopolitical tensions ease, demand forecasts weaken, or supply chatter turns into actual output. A stronger inflation report might also push up rate bets, strengthen the dollar, and weigh on commodities overall, dragging energy stocks down.
As trading picks up, eyes will be on crude to see if it stays above this week’s lows. Investors may also begin shifting ahead of Exxon’s results due January 30.
