New York, Jan 28, 2026, 20:00 EST — The market has closed.
- XOM was up roughly 0.5%, trading at $137.58 following Wednesday’s close.
- Brent and U.S. crude hit four-month highs amid supply concerns and mounting tensions in the Middle East.
- Exxon’s results on Jan. 30 will follow fresh headlines about carbon capture and new partnerships as the next key catalyst.
Exxon Mobil (NYSE: XOM) shares edged up 0.5% to close at $137.58 on Wednesday, swinging between $136.26 and $137.98 during the day. Volume came in around 15.6 million shares.
With markets closed, focus turns to whether oil can sustain its recent rally and how Exxon will discuss margins and capital expenditure in its upcoming report. The stock has edged up as the month ends, usually narrowing the window for any earnings reaction.
Energy traders are navigating geopolitics, winter weather, and central-bank cues all in one week. Exxon is under scrutiny since crude prices hit its upstream profits directly, even as the company pushes to expand its focus beyond the usual cycle.
Brent climbed 1.23% to close at $68.40 a barrel, with U.S. West Texas Intermediate (WTI) crude rising 1.31% to $63.21, Reuters noted, marking its highest level since late September. “The markets were up on concerns about the U.S.’ armada,” said Phil Flynn, senior analyst at Price Futures Group. UBS analyst Giovanni Staunovo added, “the next report will be more interesting” as it could reveal cold-weather effects. The U.S. Energy Information Administration showed a 2.3 million-barrel drop in crude inventories last week, while domestic production was estimated to have fallen by about 600,000 barrels a day. (Reuters)
Exxon announced it has launched commercial carbon capture and storage (CCS) alongside CF Industries in Louisiana, aiming to transport and store up to 2 million tonnes of CO2 annually from CF’s Donaldsonville ammonia plant. CCS captures carbon dioxide from industrial sources and sequesters it underground. Exxon has also inked agreements with AtmosClear and Lake Charles Methanol II and plans to kick off CCS projects with Linde and Nucor later this year. Competitors like Chevron, Occidental Petroleum, and Talos Energy are also moving into CCS technology, Reuters reported. (Reuters)
China’s BYD and Exxon are set to expand their hybrid-technology collaboration through a long-term memorandum of understanding, BYD announced. While typically non-binding, the agreement aims to advance joint efforts in customised product R&D and innovative material applications. This follows last year’s launch of engine oil tailored for BYD’s plug-in electric vehicles. (Reuters)
Friday’s report boils down to essentials for investors: oil and gas output, realized prices, refining margins, and chemical segment performance amid weaker demand. Changes in how Exxon presents costs or project timelines take on added weight with crude prices swinging sharply.
Ahead of Thursday’s session, traders will be eyeing whether the crude rally loses steam if supply bounces back fast or if tensions in the Middle East ease. Exxon tends to act like a stand-in for oil prices on such days, even without any company-specific news.
The setup works both ways. If oil prices retreat or earnings disappoint on margins or cost control, a stock sitting near recent highs could fall fast as positions adjust.
Exxon plans to publish its fourth-quarter earnings on Friday, Jan. 30, starting with a press release at 5:30 a.m. Central, followed by a conference call at 8:30 a.m. Central, the company announced. CEO Darren Woods will be on the call, joined by CFO Kathy Mikells and the incoming CFO Neil Hansen. (Exxonmobil)
