Oil prices increased, ExxonMobil expects lower Q4 earnings, Phillips 66 acquires EPIC NGL

From Zacks Investment Research: 2025-01-15 09:58:28

Oil prices rose during the week, with WTI crude futures up 3.5% to $76.57 per barrel and natural gas prices jumping 19% to $3.9890 per MMBtu. ExxonMobil projected a sharp decline in Q4 earnings, citing weak performance across all segments. Phillips 66 acquired EPIC NGL for $2.2 billion, strengthening its NGL foothold. Chevron and Shell started oil production at the Whale platform in the Gulf of Mexico. Canadian Natural Resources announced a 2025 budget with a focus on high-return projects. Energy stocks mostly saw gains last week. Watch for upcoming data releases and Q4 earnings for market trends.



Read more at Zacks Investment Research: Oil & Gas Stock Roundup: ExxonMobil’s Q4 Update & Phillips 66’s Acquisition in Focus – January 15, 2025