New York, Jan 16, 2026, 12:24 PM EST — Regular session
- Exxon shares edged up slightly by midday, following a stable trend in the U.S. energy sector
- Oil prices dipped after concerns over a U.S. strike on Iran calmed, cooling off some momentum in crude-related stocks
- Traders have their eyes on Exxon’s Jan. 30 earnings report as the next key catalyst
Exxon Mobil shares inched higher on Friday, rising roughly 0.5% to $129.72 by midday. Investors balanced new exploration efforts against a dip in crude prices.
Oil prices have been jittery, shifting with every geopolitical twist. The energy sector could easily flip on a single headline. On Friday, crude slipped further after chances of a U.S. strike on Iran seemed to diminish, though prices still managed to lock in weekly gains. 1
Exxon has lined up company-specific developments. It’s tapped Shearwater Geoservices for a 3D seismic survey in deepwater off Trinidad and Tobago, spanning roughly 6,000 square kilometers. Work kicks off in Q1 and should take about five months, according to Reuters. Exxon VP John Ardill highlighted plans to leverage its Caribbean deepwater expertise and speed up efforts in Trinidad, using infrastructure nearby in Guyana. There, Exxon and partners have discovered over 11 billion barrels of recoverable resources. 2
Oil’s path kept setting the tone for sentiment. Crude prices dropped roughly 4% on Thursday, ending a five-day rally. The slide followed remarks from U.S. President Donald Trump that calmed worries about fresh tensions with Iran and possible supply shocks. 3
Energy trading showed a split. Chevron edged up roughly 0.3%, but energy-focused ETFs suggested the sector remains unsettled, with crude slipping back from earlier peaks.
A calendar quirk is also at play. U.S. markets were closed Monday for the Martin Luther King Jr. holiday, making some investors hesitant to pile on risk heading into the long weekend—even with earnings season picking up. 4
Exxon’s next major event is its earnings report, set for Jan. 30. The oil giant will unveil its fourth-quarter results, with a conference call slated for the same morning. 5
The setup isn’t straightforward. Should crude prices keep falling and the geopolitical premium fade, upstream earnings could weaken sharply—and that usually hits near-term forecasts before the big projects make news. On the flip side, any fresh flare-up in the Middle East would push volatility higher and amplify headline risks.
Investors are set to zero in on Jan. 30, when Exxon reports on production, refining margins, and cash returns. The key question: does management view the recent oil price swings as temporary noise or a trend set to persist into early 2026?
