NEW YORK, December 30, 2025, 10:53 ET — Regular session
- Exxon Mobil shares edged higher in morning trading as crude prices held firm after a sharp rise a day earlier.
- Oil markets weighed supply risks tied to geopolitics and export disruptions, including the CPC route for Kazakhstan crude.
- Traders are watching the next U.S. inventory update and the timeline for Exxon’s next earnings report.
Exxon Mobil shares rose about 0.5% to $121.19 in late morning trading, after moving between $121.00 and $121.75.
The move mattered because Exxon, like other big integrated oil companies, tends to trade with crude prices day-to-day. Oil has been the main driver for the sector as investors react to fast-changing geopolitical headlines and near-term supply constraints.
Brent and U.S. West Texas Intermediate — the global and U.S. oil benchmarks used to price most crude trades — were modestly higher on Tuesday after both jumped more than 2% in the prior session. “Prices are likely to trend downwards in the first quarter of 2026 because of a ‘growing oil glut’,” Marex analyst Ed Meir said. Reuters
One supply flashpoint sits on the Caspian Pipeline Consortium route, a key outlet for Kazakhstan’s CPC Blend crude shipped from a Black Sea terminal near Novorossiysk. CPC said it suspended exports due to bad weather and halted intake because reservoirs were full, while loading has been constrained since a Ukrainian drone attack on Nov. 29; the terminal handles about 80% of Kazakhstan’s oil exports, and Kazakhstan fields operated by Chevron, Exxon, Eni and Shell ship through it.
On the demand-and-stocks side, the latest U.S. government data showed crude inventories rose by 405,000 barrels to 424.8 million barrels in the week ended Dec. 19, defying expectations for a draw, while gasoline inventories rose sharply, the Energy Information Administration said.
Peers were mixed-to-firmer as traders tracked crude; Chevron shares were up about 0.6% at $151.96.
For Exxon, the immediate sensitivity sits in upstream earnings — the drilling and production business — which typically benefits when crude prices rise. Its refining and chemicals units can move differently, depending on fuel and petrochemical margins.
Some short-term traders also focus on round-number levels in the stock, with $120 acting as a widely watched line after Exxon held above it in early trade. A decisive break below that level can attract momentum selling, while a hold can reinforce a “buy-the-dip” tone.
Oil remains the bigger tape. Any sustained disruption to Kazakhstan flows, or a shift in expectations for Russia-Ukraine talks and Middle East risks, can move crude quickly and reprice the energy complex in minutes.
The next scheduled U.S. weekly supply update is due on Wednesday, Dec. 31, according to the EIA’s release calendar for its weekly data.
Investors are also looking ahead to Exxon’s next quarterly results. Nasdaq’s earnings calendar shows Exxon is estimated to report around Jan. 30, 2026, though companies can update dates as they get closer.
Between now and then, traders will keep the focus on crude’s direction, signs of tightening or loosening physical supply, and whether energy stocks can hold recent gains into year-end trading conditions.
