NEW YORK, Jan 21, 2026, 19:21 EST — After-hours
- Exxon shares closed Wednesday at a fresh 52-week peak and stayed close to that mark in late trading.
- Oil and energy markets remained reactive to headlines, centering on supply threats and the impact of winter weather.
- Coming next: U.S. inventory figures on Thursday and Exxon’s earnings call for Jan. 30.
Exxon Mobil Corp (XOM) shares gained 2.4%, ending up at $133.61 in after-hours trading on Wednesday. The stock hit a new 52-week high after steadily climbing during the session. Trading volume hit around 18.9 million shares, surpassing the recent average, according to market data. (MarketWatch)
The move comes as investors return to cyclical stocks following a tough previous session, while energy traders grapple with a complicated mix of supply disruptions, winter demand, and political uncertainty that can quickly jolt crude prices.
Timing is key for Exxon as it approaches its quarterly earnings. With oil and refined-product prices still dominating the conversation, the stock’s climb to fresh highs sets high expectations for what investors want to see in the report.
Wall Street picked up after President Donald Trump announced a framework agreement on Greenland and said the tariffs set for Feb. 1 would be put on hold, easing near-term trade-war worries. Jason Pride, chief of investment strategy and research at Glenmede, noted, “What is the economic impact is whether we all start imposing tariffs on each other.” The Dow jumped 1.21%, while the S&P 500 climbed 1.16%. (Reuters)
Brent crude rose 0.5%, closing at $65.24 a barrel, while U.S. WTI finished at $60.62. Traders focused on tighter supply following disruptions in Kazakhstan and awaited U.S. inventory figures. UBS analyst Giovanni Staunovo noted that tariffs might dampen economic growth, adding a risk-off sentiment to the market. (Reuters)
Supply news remained active in the Black Sea, with Kazakhstan’s CPC export route running below capacity. Sources told Reuters that a fire at the Tengiz field led to a force majeure declaration. (Force majeure allows suppliers to halt deliveries when uncontrollable events disrupt operations.) The CPC terminal accounts for roughly 1.5% of the world’s oil supply, and the pipeline consortium includes ExxonMobil subsidiaries, according to the report. (Reuters)
Weather remains a wild card. U.S. refineries are gearing up for a severe Arctic blast sweeping across large parts of the country, which could trigger equipment breakdowns and output cuts. Diesel futures climbed roughly 4% on Wednesday, while U.S. natural gas futures surged 57% over the last two sessions, hitting a six-week peak, Reuters said. (Reuters)
Policy risk surrounding Venezuela is resurfacing in market moves. According to sources at a recent meeting, U.S. Energy Secretary Chris Wright told oil executives that Venezuela’s production could jump 30% from around 900,000 barrels per day in the short to medium term. Exxon CEO Darren Woods reportedly told Trump that Venezuela would have to overhaul its laws before becoming an appealing investment, the report added. (Reuters)
Exxon plans to release its fourth-quarter 2025 results on Friday, Jan. 30, with an earnings call set for 8:30 a.m. Central time. The lineup of speakers will feature CEO Darren Woods, CFO Kathy Mikells, incoming CFO Neil Hansen, and investor relations head Jim Chapman. (ExxonMobil)
Investors know the drill: Exxon generates revenue by producing oil and gas (upstream) and by refining crude into fuels. This dual setup can soften the blow when one segment falters, but it also leaves the stock vulnerable to volatility in both crude prices and fuel markets.
But it can turn south fast. A sharp rise in U.S. crude inventories, weaker demand hints, or disrupted barrels coming back sooner than anticipated would weigh on oil prices. At the same time, weather-related refinery outages can slash throughput and volumes, even if fuel prices climb.
Thursday’s U.S. government inventory report and new signals from commodity prices will be key for traders ahead of Exxon’s earnings release and call on Jan. 30.
