As oil futures rocket past $100 per barrel tonight, the market is splitting in two. Tech and diversified holdings are getting crushed, while pure-play energy names are surging.
Let’s explore some of the biggest movers on Sunday night. Tech companies like NVIDIA and Apple are getting badly bruised, but energy stocks are rallying.
Exxon (XOM): Up 3.6% After Hours
Exxon Mobil (NYSE:XOM | XOM Price Prediction) is up 3.6% in after-hours trading as WTI crude futures spike 18% above $100 per barrel. That oil move flows almost directly into Exxon’s earnings and free cash flow. Its Permian Basin operations hit a record 1.8M barrels of oil equivalent per day in Q4, and Guyana offshore assets and Golden Pass LNG give it diversified exposure across the oil price curve. Exxon was already up 26.52% YTD and 45.33% over the past year heading into tonight. Sustained $100 oil would represent a significant tailwind relative to the price assumptions embedded in current analyst models.
Chevron (CVX): Up 3.5% After Hours
Chevron (NYSE:CVX) is up 3.5% after hours, similarly powered by the oil surge. Its asset mix, including the Permian, Kazakhstan’s Tengiz field, and deepwater Gulf of Mexico, gives it broad leverage to elevated crude. Chevron delivered a record full-year operating cash flow of $33.9B in 2025 and returned $27.1B to shareholders, and is up 25.85% YTD and 29.81% over the past year heading into tonight’s move.
Berkshire Hathaway (BRK-B): Down 1.3% After Hours
Berkshire Hathaway (NYSE:BRK-B) is down 1.3% tonight, which looks paradoxical given its Chevron stake. But its largest holding is Apple, which is sinking alongside the broader tech selloff. GEICO, BNSF Railroad, and consumer-facing businesses also face real headwinds in an oil-shock slowdown. Berkshire is down 0.73% YTD while Exxon and Chevron are up over 25% each, illustrating why diversified conglomerates lag pure-play energy in a spike.
Tonight’s rotation is textbook oil shock dynamics. Nasdaq futures are down 2.1%, the Dow is down 1.9%, and S&P 500 futures are off 1.8%. The key question is whether $100+ oil is a sustained regime or a geopolitical headline spike. Whether $100+ oil represents a sustained regime or a short-term spike will determine how durable tonight’s energy sector gains prove to be.
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