New York, Feb 10, 2026, 11:03 EST — Regular session
- Exxon shares dip in morning trade after closing at a new 52-week high on Monday
- Crude holds near flat as traders track U.S.-Iran tensions and a heavy U.S. data week
- Investors eye U.S. inventory figures and Exxon’s Feb. 20 investor update
Exxon Mobil shares edged lower on Tuesday, easing after the stock’s push to a new 52-week high a day earlier. Shares were down about 0.5% at $150.49 in morning trade.
The pullback matters because Exxon has become a key proxy for how investors see the next move in crude — and the energy sector has been trading on geopolitics as much as on earnings. A quiet oil tape can take the air out of momentum fast.
Traders also have a short fuse this week. A run of U.S. economic releases and inventory data is set to test the view that demand can hold up even if growth slows, and that tends to show up first in big liquid names like Exxon.
On Monday, Exxon rose 1.45% to close at $151.21, its second straight gain, and set a new 52-week high, MarketWatch reported. Volume ran above its 50-day average. 1
Oil prices were little changed on Tuesday after a strong start to the week, with Brent up 0.4% at $69.31 a barrel and U.S. WTI up 0.2% at $64.48 in late morning New York trade. “Unless there are concrete signs of supply disruptions, prices will likely start going lower,” said Tamas Varga, an analyst at PVM. IG analyst Tony Sycamore said “a modest risk premium has been kept intact.” 2
Supply headlines have not gone away. A Reuters survey found OPEC pumped 28.34 million barrels per day in January, down 60,000 bpd from December, while OPEC+ — the broader group that includes allies such as Russia — paused its monthly output increases in the first quarter. 3
Exxon’s recent climb followed its late-January earnings update. In a Jan. 30 filing, the company reported full-year 2025 earnings of $28.8 billion and said it planned to repurchase $20 billion of shares through 2026, assuming reasonable market conditions. “ExxonMobil is a fundamentally stronger company than it was just a few years ago,” CEO Darren Woods said in the release. 4
The sector is also seeing fresh scrutiny of capital returns. BP’s decision to scrap buybacks has sharpened comparisons across oil majors, where dividends and buybacks (share repurchases) are a large part of the equity story. 5
Other U.S. oil majors were also lower on Tuesday, with Chevron down about 0.6% and ConocoPhillips off about 1.1%.
But the backdrop can flip. If the market decides Middle East risks are not translating into actual supply disruption — or if U.S. data points to weaker demand — crude and energy equities can slide together, and Exxon’s recent high could start to look like a near-term peak.
What comes next is mostly calendar-driven. Traders are watching U.S. crude inventory data due over Tuesday and Wednesday, and key U.S. economic releases later this week that could sway rate expectations and demand bets.
For Exxon holders, the next company-specific marker is Feb. 20, when the company is due to publish an updated Company Overview and Investment Case presentation.
