New York, Feb 16, 2026, 11:22 (EST) — The market is closed.
Exxon Mobil ended Friday’s session at $148.45, slipping roughly 1%. U.S. stock markets will be closed on Monday for Presidents Day.
For Exxon, the pause looms large—shares tend to track crude, so Monday’s oil jump will hit all at once once trading picks up again. And with the holiday week, thinner trading stretches out those initial swings, headlines hitting harder with less time to settle.
Tuesday brings a double focus for investors: oil prices on one side, and fallout from last week’s company news on the other. That divide isn’t trivial—Exxon’s upstream segment tracks crude closely, but refining and chemicals react to things like plant outages, maintenance work, and policy disputes.
Crude edged higher on Monday, with Brent climbing 0.6% to $68.16 and U.S. WTI gaining 43 cents to $63.32. No settlement for WTI, thanks to the U.S. holiday. Traders focused on U.S.-Iran nuclear discussions set for Geneva on Tuesday, plus chatter that OPEC+ may restart output hikes in April. “Fears of supply disruption from the U.S.-Iran tensions have helped keep oil prices stable,” PVM’s Tamas Varga said. Reuters
Three contractors suffered injuries late last week after steam condensate escaped while they were working on the small crude distillation unit at Exxon’s 612,000-barrel-per-day Beaumont refinery in Texas, according to sources familiar with the plant. That section of the facility, the front-end unit, handles splitting crude into feedstocks for downstream operations. In an emailed statement, Exxon spokesperson Kelly Davita said, “Safety is always our top priority,” and confirmed that an investigation is underway to find out what happened. Reuters
A federal judge shot down California Attorney General Rob Bonta’s attempt to dismiss Exxon’s defamation suit around its “advanced” plastics recycling campaign, according to Reuters. Exxon claims detractors are out to sabotage the initiative. Bonta’s office, for its part, hasn’t responded to comment requests. Reuters
It’s a simple play in the short term—crude stays firm, energy stocks like Exxon often get bought when U.S. markets reopen. But if oil slips, Exxon tends to lose ground, even if there’s nothing new from the company.
This week’s macro drivers could swing prices either direction. If Iran talks generate a clear de-escalation message, or if OPEC+ members firm up talk of more supply, oil might drop. On the company front, any update from Beaumont—operational or otherwise—or a new legal twist could stir up even more volatility.
Exxon is set to release a fresh version of its Company Overview and Investment Case presentation on Feb. 20, according to a recent filing. That date marks the next scheduled update for investors watching the stock.
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