NEW YORK, Jan 29, 2026, 17:55 EST — After-hours
- Exxon Mobil shares closed Thursday up roughly 2.1%, at $140.51.
- Crude closed over 3% higher, with traders factoring in supply concerns amid U.S.-Iran tensions.
- Exxon is set to release its quarterly earnings on Friday.
Exxon Mobil’s shares climbed roughly 2.1% on Thursday, closing at $140.51. This pushed the stock to a new 52-week closing high and marked its third day of gains. 1
The bid came after oil prices surged sharply, with Brent closing at $70.71 a barrel and U.S. crude at $65.42—both hitting five-month highs. The spike reflects fears that global supply could be disrupted if Washington takes action against Iran. “The immediate (market) concern … is the collateral damage done if Iran … closes the Strait of Hormuz,” said PVM analyst John Evans. 2
Exxon is set to report earnings on Friday, with investors keen to see if there’s any change in the company’s stance on 2026 spending and cash returns amid rising crude prices. The fourth-quarter earnings call will feature CEO Darren Woods and CFO Kathy Mikells. 3
The broader market saw mixed action. The S&P 500 and Nasdaq slipped, dragged down by Big Tech struggles. Meanwhile, a sharp rise in oil prices lifted energy stocks, fueling a rotation of funds. 4
Exxon’s rivals followed suit. Chevron rose around 0.7%, while ConocoPhillips added about 1.4%.
Exxon faces a tricky short-term picture. While rising crude prices boost upstream profits, investors are zeroing in on earnings from the earlier part of the quarter when oil prices were lower, along with how much cash the company can return to shareholders.
Refiners and integrated majors risk getting squeezed when crude climbs quicker than fuel prices. Traders will be tuned in for any hints on margins and volumes from Exxon’s fuels and chemicals units, where fluctuations can impact just as much as the headline oil price.
Timing poses another risk. Exxon previously flagged that weaker crude prices might slash fourth-quarter upstream earnings by about $800 million to $1.2 billion. On the flip side, it noted that improved refining margins could boost those earnings by $300 million to $700 million. 5
Outside the company, another risk looms. If geopolitical tensions ease, the “premium” built into crude prices could evaporate fast, often dragging energy shares down just as swiftly.
Friday’s focus boils down to two things: Exxon’s quarterly report and any new developments on U.S.-Iran tensions that could either tighten oil supplies or ease pressure. 6
