New York, Feb 5, 2026, 13:11 EST — Regular session
- Exxon Mobil shares dipped roughly 1.5% early afternoon, dragged down by crude prices dropping over 3%.
- Oil swung sharply once more as expectations shifted ahead of U.S.-Iran talks in Oman on Friday.
- Traders are watching Exxon’s spending cues in Guyana closely, with the company’s Feb. 20 investor update date now in focus.
Exxon Mobil Corp shares slipped 1.5% to $145.38, following a trading range between $148.27 and $143.81. Chevron dropped 1.1%, while ConocoPhillips slid 2.9%, with the energy sector moving in line with oil prices.
The pullback is crucial now, as crude headlines are driving daily moves in big oil stocks. Traders are adjusting the “risk premium” — that extra cost baked in when supply disruptions seem more likely. Oil dropped after the U.S. and Iran agreed to talks in Oman on Friday, easing concerns over potential bottlenecks in Iranian barrels. UBS analyst Giovanni Staunovo noted markets are “closely watching the talks in Oman.” (Reuters)
The recent dip comes after a sharp rise the previous day, with oil closing roughly 3% higher following reports that planned talks might fall apart. Ajay Parmar, director of energy and refining at ICIS, noted the market remains focused on risks tied to Iran and the Strait of Hormuz, a crucial crude shipping lane. (Reuters)
Exxon’s Guyana operations have returned to focus, separate from the oil sector buzz. SBM Offshore announced that ExxonMobil Guyana Ltd, an Exxon affiliate, finalized the acquisition of the FPSO One Guyana — a floating production, storage, and offloading vessel serving offshore fields — for roughly $2.32 billion. SBM will keep running and maintaining the vessel until 2035. (SBM Offshore)
A regulatory filing revealed insider sales as well. Vice president Darrin L. Talley offloaded 5,000 Exxon shares on Feb. 2, fetching roughly $139.75 each, per a Form 4 submitted on Feb. 3. (Exxon Mobil Corporation)
Exxon’s longer-term outlook hinges on cash returns and project execution. In its Jan. 30 earnings report, the company posted fourth-quarter adjusted earnings of $1.71 per share. Shareholder payouts for the quarter hit $9.5 billion, with $5.1 billion spent on buybacks. Exxon also announced plans to repurchase $20 billion in shares by 2026, “assuming reasonable market conditions.” CEO Darren Woods said, “We’re capturing more value from every barrel and molecule we produce.” The company set Feb. 20 to release an updated Company Overview and Investment Case presentation. (Exxon Mobil Corporation)
Woods highlighted a key near-term target for investors. He told analysts the first LNG shipment from the Golden Pass export terminal in Texas should arrive “very early March.” This start-up has drawn attention after setbacks and cost overruns at the QatarEnergy joint venture. (Reuters)
The catch is clear: crude can swing wildly on those same headlines that pushed it lower today. Should Friday’s talks suggest de-escalation, the geopolitical premium might slip even more; if relations sour, it could rebound sharply. Exxon usually follows that pattern closely.
Traders are zeroing in on Friday’s talks in Oman next. Right after, attention moves swiftly to Exxon’s investor update on Feb. 20, followed closely by the early-March launch of Golden Pass LNG.
