New York, February 18, 2026, 11:52 (EST) — Regular session
- XOM up about 2.5% as crude rebounds and energy shares firm
- Guyana gas plans back in focus after Exxon flags demand hurdle
- Fed minutes at 2 p.m. EST and delayed U.S. inventory data on deck
Exxon Mobil shares rose $3.64, or 2.5%, to $149.83 in late morning trade on Wednesday. The stock has traded between $146.73 and $149.84 so far in the session.
The move matters now because oil-linked names have started to lead again after a choppy stretch in U.S. equities. The S&P 500 energy index added about 1.1% in early trade, outpacing the broader market’s modest gain. (Reuters)
Crude prices did the heavy lifting. Brent futures (the global benchmark) were up $1.96, or 2.9%, at $69.38 a barrel, while U.S. West Texas Intermediate (WTI) gained $1.75, or 2.8%, to $64.08 at 1440 GMT, after Russia-Ukraine peace talks ended abruptly in Geneva and U.S.-Iran tensions stayed in view. “Yesterday’s dip was viewed as a buying opportunity,” Tamas Varga of oil broker PVM told Reuters. (Reuters)
Exxon has its own story running alongside the tape. At the Guyana Energy Conference, upstream chief Dan Ammann said a pipeline Exxon built was ready to deliver gas, but the country needs to move faster on industrial projects to sustain demand; “as soon as that demand picture evolves … then we’ll be ready to meet it,” he said. Ammann also said parts of the Stabroek Block remain under force majeure — a clause that can suspend obligations after extraordinary events — because of the Guyana-Venezuela border dispute, adding: “We’re as eager as anybody to get back into those areas as soon as we can.” (Reuters)
There was a sour note out of Australia. Mobil Oil Australia, owned by Exxon, was fined A$16 million ($11.3 million) after admitting misleading claims about fuel additives at nine Queensland petrol stations, the Australian Competition and Consumer Commission said; “some people chose to fill up … because they thought they were getting a different quality of petrol,” ACCC Deputy Chair Mick Keogh said. Mobil told Reuters it has covered or removed the claims and acknowledged errors. (Reuters)
Peers also traded higher with the oil bounce: Chevron rose about 1.3%, BP gained roughly 1.6% and Shell added about 1.9% in U.S. trading.
For Exxon stock, crude remains the quickest lever day to day. As an integrated oil major — producing oil and gas, and refining and marketing fuels — it tends to move with the market’s view on the next few months of prices more than with any single headline.
Still, traders will keep scanning for what Guyana’s government does next on gas demand, because the timeline for power plants and downstream projects will shape how quickly that gas turns into cash rather than stranded capacity.
But the setup cuts both ways. If geopolitical risks fade, oil can give back gains fast, and Exxon’s bounce with it. And in Guyana, delays in building onshore demand would push out the payoff from gas infrastructure even if supply is ready.
The next catalysts are close on the calendar: minutes from the U.S. Federal Reserve’s January meeting are due at 2 p.m. EST, and the Energy Information Administration has scheduled its Weekly Petroleum Status Report for Thursday, February 19, at 12:00 p.m. and 2:00 p.m. ET because of the federal government closure on Monday. In Guyana, the conference agenda runs through February 20, keeping executives and project timelines in the spotlight. (Reuters)
