NEW YORK, December 29, 2025, 11:24 PM ET — Market closed
- ConocoPhillips (COP) ended up 1.2% after crude oil settled more than 2% higher.
- A delayed U.S. stockpiles report later showed crude and gasoline inventories rose.
- Traders are watching overnight oil moves and the company’s Feb. 5 earnings call for 2026 guidance.
ConocoPhillips shares rose 1.2% on Monday and finished at $92.63, after tracking a broad move higher in crude prices. The stock traded between $91.70 and $92.72, with about 5.3 million shares changing hands.
The move matters now because year-end trading has been dominated by commodity swings and geopolitical headlines, with thinner liquidity amplifying sector moves. The S&P 500 and other major U.S. indexes finished lower on Monday, even as oil-linked names held up better than the market.
Oil settled more than $1 a barrel higher after Russia accused Ukraine of targeting President Vladimir Putin’s residence, while tensions in Yemen kept supply-disruption risks in focus. Brent settled at $61.94 a barrel and U.S. West Texas Intermediate (WTI) — the main U.S. crude benchmark — ended at $58.08, Reuters reported.
Oil prices eased slightly early Tuesday after the previous session’s jump, but traders remained focused on supply-risk headlines and the 2026 balance. “Price direction is likely lower going into Q1 of 2026 as there is a growing oil glut on the market,” Marex analyst Ed Meir said. Reuters
A delayed weekly report from the U.S. Energy Information Administration (EIA) showed crude inventories rose by 405,000 barrels to 424.8 million in the week ended Dec. 19. Gasoline inventories jumped 2.86 million barrels, while stockpiles at Cushing, Oklahoma — the delivery point for WTI futures — rose by 707,000 barrels, the EIA said.
Outside the U.S. market close, ConocoPhillips also drew attention in Australia after partner 3D Energi said drilling at the Charlemont-1 exploration well was temporarily paused following significant gas shows above the primary target. ConocoPhillips Australia is the operator evaluating potential adjustments to the well design and holds a 51% operating interest, the ASX update showed.
ConocoPhillips’ gains came alongside strength in other large oil producers, including Exxon Mobil and Chevron, as crude prices rallied.
For investors, the near-term debate is whether geopolitics keeps a risk premium in crude, or whether expectations for looser supply-demand conditions push oil lower into early 2026. That matters for ConocoPhillips because it is an upstream producer — meaning its results tend to move with oil and gas prices more directly than refiners or pipeline operators.
Before Tuesday’s session, traders will be watching whether COP can hold near Monday’s range if crude remains firm, or whether a softer oil tape pulls the group back. Monday’s high and low levels are likely to remain the first reference points for short-term positioning.
The next company-specific catalyst comes Feb. 5, when ConocoPhillips is set to release fourth-quarter 2025 results before the market opens and host a webcast at noon ET covering 2026 guidance items, the company said.
Investors typically zero in on production volumes, capital spending plans and shareholder returns on that call, along with any commentary on how management is planning around commodity prices. Until then, crude moves and inventory headlines are likely to keep COP trading in tandem with the oil market.
