NEW YORK, Feb 17, 2026, 11:25 (ET) — Regular session
- Exxon Mobil slipped around 1.5% in late-morning deals, moving more or less alongside other major U.S. oil players.
- Crude prices edged lower, with investors sifting through diplomatic hints before U.S.-Iran discussions and a major OPEC+ meeting.
- Exxon is set for a March 3 appearance at a Morgan Stanley conference, while news of an Australian court fine brings fresh regulatory attention.
Exxon Mobil dropped 1.5% to $146.27 on Tuesday, dragged down as oil prices slipped. Chevron and ConocoPhillips followed suit, both in the red. The S&P 500 ETF barely budged.
This shift matters—oil’s been steering much of the sector’s daily action, with every diplomatic headline landing directly in price forecasts. Brent crude dropped 1.4% to $67.71 a barrel, while U.S. WTI hovered close to $62.79. Those moves came after Iran’s foreign minister said that Washington and Tehran had reached an understanding on “guiding principles” for the nuclear talks in Geneva. (Reuters)
“Oil prices are likely to stay volatile,” said Sugandha Sachdeva, founder of SS WealthStreet, flagging the wild price swings that have been “driven by diplomatic signals.” OPEC+ is on traders’ radar as well, with eyes on whether the group sticks to plans to restart output hikes from April—sources told Reuters after the March 1 meeting that this looks increasingly likely. (Reuters)
Exxon has a new public update on deck for early March. Senior vice president Jack Williams is set for a fireside chat—a moderated interview—at New York’s Morgan Stanley Energy & Power Conference on March 3, scheduled for 11:00 a.m. ET. The event will stream live via webcast. (Exxon Mobil Corporation)
There was another regulatory twist for investors. According to the country’s competition regulator, an Australian court has slapped Mobil Oil Australia with a A$16 million ($11.3 million) penalty after the company admitted to misleading fuel claims at Queensland petrol stations from August 2020 through July 2024. “We considered it very likely that some people chose to fill up … because they thought they were getting a different quality of petrol,” ACCC deputy chair Mick Keogh said. (Reuters)
Exxon’s Guyana project is grabbing attention again, just as the Guyana Energy Conference gets underway Tuesday in Georgetown. Political shifts in Venezuela could finally loosen a border dispute that’s kept a chunk of the Stabroek Block—about 30%, according to Reuters—off limits for drilling; Exxon heads up the consortium there with Chevron and CNOOC. “It removes the biggest barrier for foreign investment,” said Henry Ziemer, associate fellow at the Center for Strategic and International Studies. Exxon CEO Darren Woods suggested the changes might lead to “less naval patrols” and “a little more friendly environment.” (Reuters)
Exxon’s slide wasn’t isolated. Sector-tracking funds slipped too: the Vanguard Energy ETF gave up 1.5%, while the SPDR S&P Oil & Gas Exploration & Production ETF dropped 2.3% by late morning.
The risk swings both ways. If diplomacy cools supply fears, crude prices can tumble fast, squeezing upstream margins. But let talks hit a snag, and oil catches a bid again — energy shares get tossed around either way.
Next up: geopolitics and corporate posturing take center stage. Traders are tuned in for any developments out of the Geneva talks and watching for updates from the Guyana conference this week. Exxon’s calendar shows Williams is due in the spotlight on March 3 at Morgan Stanley’s energy conference. (Marketscreener)
