NEW YORK, Jan 26, 2026, 20:43 EST — Market closed.
Shares of Chevron Corp edged up 0.4% to $167.50 on Monday, having earlier climbed as high as $168.79. The stock remains close to its 52-week peak of $169.37. Investing.com
The decision follows a massive winter storm that rattled U.S. energy markets and sparked new concerns over supply and operational hiccups. U.S. natural gas prices surged to their highest point in roughly three years as freezing temperatures hammered production and drove demand up, the Financial Times reported. Financial Times
Oil prices edged lower on Monday but hovered close to their highest levels since mid-January, supporting many energy stocks despite ongoing debate over 2026 supply. U.S. crude closed at $60.63 a barrel, while Brent finished at $65.59. “Crude remains in a holding type trade pattern,” said Dennis Kissler, senior vice president of trading at BOK Financial. Reuters
The storm cut U.S. crude output by up to 2 million barrels per day over the weekend, with the Permian Basin suffering the largest losses, analysts and traders said. A regulatory filing revealed Chevron had hatches frozen open during the storm in Midland, Texas. ConocoPhillips and Exxon Mobil also faced disruptions. Reuters
Supply policy remains the key uncertainty. Three OPEC+ delegates told Reuters the group will probably stick with its hold on output hikes in March when eight members meet Feb. 1. Reuters
Jarand Rystad, CEO of Rystad Energy, cautioned that U.S. shale production might drop by up to 400,000 barrels per day in 2026 if oil prices fall to around $40 a barrel. “For 2026 we see a flat development of shale,” Rystad said during a conference. Reuters
Chevron faces potential legal trouble abroad that could quickly rattle markets sensitive to headlines. A consortium working on Kazakhstan’s Karachaganak field lost an arbitration case against the government, Bloomberg News reported, with partners now on the hook for up to $4 billion in compensation. Reuters
In Venezuela, a government plan aims to hand PDVSA’s joint-venture partners greater control over projects and direct access to oil sale proceeds, according to a Reuters analysis. “You got to deal with what you have,” said Ali Moshiri, CEO of Amos Global Energy Management, cautioning that vague provisions might deter investment. Reuters
Chevron currently trades around 24 times trailing earnings and yields just above 4%, per Wall Street Journal market data. This combination tends to amplify stock moves when commodity prices shift and operational problems arise simultaneously. Wall Street Journal
The storm story could lose steam quickly. If production comes back online soon and attention shifts back to weaker demand and oversupply concerns, crude-linked stocks might surrender their gains. On top of that, the Kazakhstan arbitration and Venezuela’s changing regulations add fresh uncertainties that could swing either way.
Chevron is set to release its quarterly earnings before the U.S. market opens on Friday, Jan. 30. Investors will focus on updates regarding storm-related outages and any revisions to the company’s 2026 outlook. nasdaq.com
