NEW YORK, Jan 14, 2026, 20:15 (EST) — The market has closed.
- ConocoPhillips jumped roughly 4%, closing at $100.34, beating the broader, softer U.S. market.
- Oil initially climbed but slipped back following President Donald Trump’s remarks; U.S. inventory figures added pressure.
- Attention turns to Thursday’s crude session and Conoco’s results for Feb. 5, along with its guidance for 2026.
ConocoPhillips (COP) shares jumped 4.02%, closing Wednesday at $100.34, beating the broader market as energy stocks gained ground. The S&P 500 fell 0.53%, the Dow slipped 0.09%, while Exxon Mobil and Chevron also posted gains.
The surge in oil stocks follows a volatile crude market linked to developments in Iran. Philip Petursson, chief investment strategist at IG Wealth Management, said, “A lot of what’s happening today and the last couple of days is revolving around geopolitical risk… emanating out of Iran.” Reuters
ConocoPhillips is feeling the impact since its stock has been moving closely with oil news. With U.S. markets closed until Thursday morning, the key question is whether energy stocks can hold their ground if crude prices continue to slip.
U.S. West Texas Intermediate (WTI) crude — the key U.S. benchmark — closed up 1.42% at $62.02 a barrel but gave back most gains after Trump said killings in Iran’s protest crackdown were easing. “Oil prices plummeted really quickly,” said Phil Flynn, senior analyst at Price Futures Group, as traders scaled back fears of an imminent strike on Iran. The U.S. Energy Information Administration (EIA) also reported bigger-than-expected rises in crude and gasoline inventories. Reuters
WTI slipped around 2% in early Asian trading to $60.78 a barrel, following a late-stage reversal. If this weakness sticks, it could weigh on oil-sensitive stocks at the open.
ConocoPhillips ranks among the biggest independent exploration and production firms in the U.S., with cash flow closely tied to crude prices. When oil prices climb, investors typically bid up producers quickly, often before digging into the details; but when prices drop, that trade can reverse just as sharply.
ConocoPhillips will release its fourth-quarter earnings on Feb. 5, ahead of the market open. The company plans a conference call at 12:00 p.m. Eastern that day to go over the results and lay out its 2026 guidance.
But the oil rally is hitting some resistance. Futures slipped back from their session peaks following a bearish U.S. inventory report, underscoring how supply figures can blunt gains driven by geopolitical tensions—even when the news seems heavily skewed one way.
Traders are set to watch Iran-related news closely in the coming session and throughout next week, while also monitoring U.S. inventory data and how crude prices respond. ConocoPhillips faces a key date on Feb. 5, where its guidance will command as much attention as the earnings report itself.
