New York, Jan 27, 2026, 19:31 EST — Trading after hours.
- Exxon Mobil shares ended the day up 1.5%, closing at $136.83, then saw little movement in after-hours trading
- Oil climbed roughly 3% after supply disruptions tied to the storm; Exxon announced it was shutting units at Baytown
- All eyes turn to Exxon’s quarterly report on Friday, as investors zero in on refining margins and outage updates
Exxon Mobil Corporation shares closed Tuesday up 1.5% at $136.83 and stayed near that mark in after-hours trading, matching gains seen across major oil players like Chevron, BP, and Shell.
Why it matters now: the stock is once again moving like a stand-in for crude, with fresh market focus on U.S. supply issues and refining hiccups. A winter storm in the U.S. is at the center, forcing energy traders to adjust prices on near-term barrels and related products.
The report arrives just two days ahead of Exxon’s fourth-quarter earnings and conference call. Investors will be focused on any operational impact from the freeze, along with management’s outlook on 2026 spending and returns. 1
Oil prices jumped nearly 3% on Tuesday as a storm knocked U.S. production offline and briefly halted Gulf Coast crude exports, Reuters reported. “Short-term risks [are] tilted to the upside on fears of supply disruptions,” said Fawad Razaqzada, a market analyst at City Index. Tamas Varga from PVM warned the cold snap could cause “significant drawdowns in oil stocks” if it continues. 2
Exxon announced it was shutting down units at its Baytown, Texas petrochemical complex due to freezing conditions. The site houses a refinery processing 564,440 barrels per day. Flaring, a safety measure involving burning hydrocarbons when units can’t operate normally, was also spotted in other parts of the Gulf Coast during the cold snap. 3
Separately, China’s BYD announced it will expand its hybrid-technology collaboration with Exxon through a long-term memorandum of understanding. This non-binding deal outlines plans for joint efforts like customised product research and new material applications. The two firms unveiled a jointly developed engine oil for BYD plug-in hybrids just last year. 4
Exxon climbed close to its previous session’s 52-week peak, despite mixed U.S. stock performance—S&P 500 edged up while the Dow slipped. Trading volume for Exxon ran below its recent average, MarketWatch reported. 5
Exxon shareholders know the drill: rising crude prices boost upstream profits, and winter outages can jolt product markets and refining margins fast. Integrated majors often move on any sign of ongoing disruption, even if the hit to an individual facility is tough to quantify.
That storm story works both ways. If production and exports bounce back quicker than forecast — or if international supply steadies sooner — crude prices could fall, making the stock’s recent rally look overdone. A prolonged outage at Baytown would add to the risk, potentially slashing volumes and boosting costs, clouding the outlook for earnings.
Friday’s quarterly report is the next major catalyst, with results set to drop premarket. Executives will follow up with a management call and Q&A later that morning. 6
