New York, Jan 22, 2026, 12:37 EST — Regular session
- Exxon Mobil shares edged down roughly 0.2% in midday trading, following a close at a 52-week peak just yesterday.
- Oil dropped roughly 2% earlier as U.S. crude inventories increased in the latest weekly government report.
- Traders have their eyes on the upcoming EIA report due Jan. 28 and Exxon’s quarterly earnings set for Jan. 30.
Shares of Exxon Mobil Corp (XOM) slipped 0.2% to $133.34 in midday New York trading on Thursday, pulling back after hitting a 52-week closing high just a day earlier.
This shift is significant as Exxon has been acting like a macro proxy lately — a mix of oil exposure and headline risk. Following a strong two-day rally, investors are waiting on cues from crude ahead of earnings season kicking off.
By 10:14 a.m. ET, U.S. stocks edged up following President Donald Trump’s softened tariff stance on Europe. Meanwhile, November’s PCE inflation climbed 2.8% year-over-year, a bit above expectations. The PCE index remains the Fed’s favored inflation measure. (Reuters)
Oil dipped earlier Thursday, with Brent futures dropping $1.01 to $64.23 a barrel. U.S. WTI lost 96 cents, trading at $59.66 by 11:26 a.m. ET. Ole Hansen, Saxo Bank’s chief commodity analyst, pointed to a “deflation of risk premium related to the Greenland debacle.” IG’s Tony Sycamore added that prices should stay near $60 a barrel. (Reuters)
Data from the U.S. Energy Information Administration revealed that commercial crude oil inventories increased by 3.6 million barrels last week, reaching 426.0 million barrels. Gasoline stocks surged by 6.0 million barrels, while distillate inventories climbed 3.3 million barrels. (Energy Information Administration)
Exxon surged 2.41% on Wednesday, closing at $133.61, marking its third consecutive rise and hitting a fresh 52-week peak, according to MarketWatch data. Trading volume reached roughly 18.8 million shares, surpassing the 50-day average of 16.4 million. (MarketWatch)
The rally took off once Wall Street bounced sharply after Trump eased off threats to impose tariffs over the Greenland dispute. Jason Pride, Glenmede’s chief of investment strategy and research, noted, “The economic impact is whether we all start imposing tariffs on each other.” (Reuters)
Oil stocks showed uneven moves Thursday. Chevron edged higher by 0.4%, while ConocoPhillips slipped around 0.7% in midday trading.
The situation could shift quickly if crude continues to slide or Exxon’s report shows that weaker prices are hitting cash flow. Exxon warned earlier this month that lower crude prices might slash fourth-quarter upstream earnings by somewhere between $800 million and $1.2 billion. Here, “upstream” refers to its oil-and-gas production segment. (Reuters)
Exxon announced in a filing that it plans to release its fourth-quarter 2025 results around 5:30 a.m. Central time on Friday, Jan. 30. (Exxon Mobil Corporation)
Traders are also eyeing the weekly U.S. petroleum report set for Jan. 28—a key figure that can swiftly sway crude prices when inventory levels climb. Exxon’s next major date to watch is Jan. 30. (EIA)
