New York, Feb 10, 2026, 11:03 EST — Regular session
- Exxon shares slipped in morning trading, coming off a fresh 52-week high reached at Monday’s close.
- Crude prices barely budge, with traders eyeing U.S.-Iran tensions and a packed slate of U.S. economic data this week.
- Investors are watching U.S. inventory numbers, with attention also on Exxon’s investor update due Feb. 20.
Exxon Mobil slipped about 0.5% to $150.49 in morning trading Tuesday, pulling back after notching a fresh 52-week high just the day before.
The Exxon retreat stands out, with the stock now a bellwether for sentiment on crude’s direction. Lately, energy names have been just as reactive to geopolitical headlines as quarterly results. Lose volatility in oil prices, and that momentum fizzles quick.
This week, traders aren’t exactly showing much patience. A slew of U.S. economic numbers and inventory reports is on deck, poised to challenge whether demand stays solid even as growth loses steam. That’s something that usually hits big liquid stocks such as Exxon first.
Exxon climbed 1.45% on Monday, finishing at $151.21—a fresh 52-week high and the stock’s second consecutive advance, MarketWatch reported. Trading volume topped the 50-day average. 1
Oil barely budged Tuesday, holding onto earlier gains—Brent inched up 0.4% to $69.31 per barrel, while U.S. WTI added 0.2%, trading at $64.48 late in New York. Tamas Varga at PVM called out the lack of concrete supply threats: “Unless there are concrete signs of supply disruptions, prices will likely start going lower,” he said. IG’s Tony Sycamore pointed out that “a modest risk premium has been kept intact.” 2
Supply issues remain in focus. According to a Reuters survey, OPEC’s oil production slipped to 28.34 million barrels per day in January, a decrease of 60,000 bpd from December. OPEC+, which brings in partners like Russia, has also put its monthly output hikes on hold for the first quarter. 3
Exxon shares bounced higher after the company rolled out its earnings update at the end of January. In a Jan. 30 filing, Exxon posted $28.8 billion in full-year 2025 earnings and laid out plans to buy back $20 billion in stock by 2026—provided markets stay “reasonable.” “ExxonMobil is a fundamentally stronger company than it was just a few years ago,” CEO Darren Woods said in the statement. 4
Capital returns are back in the spotlight for the sector. BP’s move to drop buybacks has turned up the heat on peer comparisons, especially as dividends and share repurchases remain a core piece of the equity pitch for oil majors. 5
Cuts hit other U.S. oil majors, too. Chevron slipped roughly 0.6%, while ConocoPhillips dropped about 1.1% on Tuesday.
The situation can reverse fast. Should Middle East tensions fail to disrupt supply, or if fresh U.S. numbers hint at sluggish demand, oil and energy stocks may give back ground. Exxon’s recent rally? That high might end up just marking a short-term top.
Next up: traders are zeroed in on U.S. crude stockpile reports scheduled for Tuesday and Wednesday. After that, a batch of major U.S. economic data later this week could shake up rate outlooks and influence demand forecasts.
Exxon investors looking ahead will have Feb. 20 circled—that’s when the company plans to release its refreshed Company Overview and Investment Case presentation.
