Exxon Mobil Corp.’s stock fell 0.5% early Wednesday, after the oil giant said lower oil prices and pressure on refining margins would weigh on fourth-quarter earnings. Oil prices measured by the U.S.

Exxon Mobil signaled on Tuesday that sharply weaker oil refining results, asset impairments and lower oil prices would reduce its fourth-quarter earnings by about $1.75 billion from the prior quarter.

Exxon Mobil Corp. said earnings took a hit from lower crude prices and narrowing refining margins during the final three months of 2024.