NEW YORK, January 25, 2026, 10:24 ET — The market has closed.
- Exxon announced it is shutting down units at its Baytown, Texas refining and petrochemical complex ahead of freezing weather forecasted for the next three days.
- Exxon shares ended Friday at $134.97, rising $1.33, or roughly 1%.
- Investors are turning to Exxon’s quarterly results set for Friday, while Fed policy decisions and U.S. fuel inventory data are also on the calendar this week.
Exxon Mobil announced on Saturday it will idle units at its Baytown, Texas refining and petrochemical complex due to freezing weather forecast over the next three days. This weekend update may influence trading when U.S. markets open again. Exxon shares ended Friday at $134.97, up $1.33, or roughly 1%. (Longbridge SG)
Located on Houston’s east side, the Baytown site features a refinery with a capacity of 564,440 barrels per day, plus chemical and olefins units. A barrel per day is the usual metric for daily output or processing capacity. Traders keep a close eye on major Gulf Coast facilities since any outages can squeeze fuel supplies and affect margins.
The timing is tricky for both bulls and bears. A sweeping winter storm has already knocked down some U.S. crude and natural gas output. At the same time, diesel prices have firmed up, driven by heating demand and worries over refining hiccups. “There is the potential for a surge in distillate demand,” said Tom Kloza, a seasoned oil analyst, referring to diesel and heating oil. (Reuters)
Oil prices climbed heading into the weekend. Brent crude closed $1.82 higher, up 2.8%, at $65.88 a barrel on Friday. U.S. crude rose $1.71, or 2.9%, to $61.07. The gains followed new U.S. sanctions targeting Iranian oil shipments and the deployment of a U.S. “armada” toward the region, Reuters reported. (Reuters)
Exxon’s shares, typically a straightforward barometer for crude and product prices, kept pace with the sector on Friday. Chevron’s stock saw minimal movement, ConocoPhillips added roughly 1.5%, and BP’s U.S.-listed shares climbed around 3%.
Exxon warned earlier this month that falling crude prices could shave $800 million to $1.2 billion off its fourth-quarter upstream earnings, the segment focused on oil and gas production. On the flip side, higher refining margins might boost results by $300 million to $700 million. The company also highlighted roughly $200 million in restructuring costs. Analysts at Scotiabank say some forecasts may still need to be cut further to account for softer oil and gas prices. (Reuters)
Exxon plans to release its fourth-quarter results at about 5:30 a.m. Central time on Friday, January 30. The earnings call will follow at 8:30 a.m. Central, according to an SEC filing and the company’s investor relations calendar. (Exxon Mobil Corporation)
Macro factors may disrupt trading. The Federal Reserve wraps up its two-day meeting Wednesday, January 28, releasing the policy statement at 2:00 p.m. ET, followed by a press conference half an hour later. On the same day, the U.S. Energy Information Administration will publish its weekly petroleum status report. (Federal Reserve)
But the clean narrative has its risks. The Baytown notice left out which units were idled, and cold snaps tend to ease quickly if the weather steadies. Still, extended outages or a fresh drop in crude prices could sour sentiment and weigh on results.
Trading picks up Monday, and investors will zero in on any shifts in expectations for Exxon’s refining and chemicals outlook after the Baytown move. Key events follow midweek: the Fed decision and U.S. inventory figures drop Wednesday, with Exxon’s earnings report due Friday.
