New York, Jan 15, 2026, 10:09 EST — Regular session
- Exxon shares dipped in early trading, pulled down by a sharp drop in crude prices from recent peaks.
- Headlines were driven by Venezuela-related refinery feedstock issues and the cancellation of a UK gas asset sale.
- Investors are bracing for Exxon’s quarterly earnings set to drop later this month.
Exxon Mobil Corp shares slipped Thursday morning, following a broader retreat in oil-related stocks. The stock fell 0.4%, settling at $129.63.
This shift is crucial now, as the market has prioritized oil prices above all else. For Exxon, fluctuations in crude can rapidly alter forecasts for cash flow, share buybacks, and the company’s spending capacity without sacrificing returns.
Company-specific headlines arrived at a tricky moment, as investors pivot toward earnings season. Now, the key trigger won’t be one standout story but rather how oil prices behave during the upcoming reports.
Crude took the lead Thursday, with Brent and U.S. futures dropping over 4% after President Donald Trump said the killings of protesters in Iran were coming to an end. The remarks eased concerns about military action and supply disruptions. Saxo Bank analyst Ole Hansen noted the “immediate risk premium” — the extra cost traders add when fearing supply shocks — had eased, though he doubts it will vanish entirely. (Reuters)
Exxon is gearing up to process Venezuelan crude at its Baton Rouge, Louisiana refinery, which handles 522,500 barrels per day, sources familiar with the plant’s operations said. This marks a possible pivot after sanctions previously pushed refiners to avoid the country’s heavy sour crude. (Reuters)
Exxon and Shell have scrapped their planned sale of Southern North Sea gas assets to Viaro Energy in Europe. Shell pointed to shifting market and commercial conditions, adding that deal conditions went unmet. Viaro CEO Francesco Mazzagatti confirmed both parties agreed to walk away, despite the transaction being “fully funded.” (Reuters)
Peers followed the broader trend. Chevron dropped 0.8%, U.S.-listed BP shares dipped roughly 2.2%, and Shell’s U.S.-listed shares lost about 1.1%.
Traders now face clear yet complicated questions: will crude continue to slide as the Iran premium fades, and how will changing signals from Venezuela impact Atlantic Basin supply and refinery economics? Exxon’s integrated model offers some protection against shocks, but it also means the stock remains vulnerable to volatile energy headlines.
There’s a risk on the horizon. Should crude keep dropping amid oversupply concerns and easing geopolitical tensions, energy stocks could quickly lose their footing. But if tensions flare again, prices might surge—though such spikes often carry their own dangers, including policy shifts, sanctions, and wider market turbulence.
Exxon announced it will report fourth-quarter 2025 earnings on Friday, Jan. 30. The company will hold a live conference call at 8:30 a.m. Central time, featuring CEO Darren Woods and CFO Kathy Mikells. Also joining will be incoming CFO Neil Hansen and investor relations chief Jim Chapman. (Exxonmobil)
