New York, Feb 2, 2026, 15:24 EST — Regular session
Comstock Resources shares fell about 9% on Monday, pressured by a sharp pullback in U.S. natural gas prices. The stock was down $2.19 at $22.16 by 3:15 p.m. ET, after trading as low as $22.05.
The move matters because Comstock’s output is overwhelmingly tied to U.S. gas, and the market is back to trading weather first, fundamentals second. The company’s core production sits in the Haynesville shale in North Louisiana and East Texas, close to Gulf Coast gas markets.
U.S. natural gas futures sank after mid-February temperature forecasts flipped warmer, setting up what Bloomberg described as the biggest percentage loss since 1996 on a non-roll day. The March contract fell 21.6% to $3.415 per million British thermal units — a standard energy unit — shortly after 11 a.m. on Monday.
That reversal followed a late-January cold snap that briefly curbed U.S. liquefied natural gas (LNG) exports and sent spot gas prices to records in several regions, LSEG data showed. Some oil and gas wells froze shut during the storm, tightening supply at the worst moment.
A broader commodity selloff has not helped sentiment. “A stronger U.S. dollar is also adding pressure on precious metals and other commodities, including oil and base metals,” said Vivek Dhar at Commonwealth Bank of Australia, after Donald Trump picked Kevin Warsh to succeed Jerome Powell at the Federal Reserve. Reuters
Other U.S.-listed gas producers also traded lower. EQT Corp fell about 5.2% and CNX Resources was down about 2.6%.
For gas traders, the next fixed point is Thursday’s weekly storage report from the U.S. Energy Information Administration. The report tracks how much gas is being pulled from or added to underground storage — a key gauge in winter.
Comstock is set to report fourth-quarter results on Feb. 11 after U.S. markets close and host a conference call on Feb. 12, the company said. Investors will listen for any changes to drilling plans and costs after the past week’s weather-driven whipsaw in prices.
But the weather trade cuts both ways, and it can turn fast. A return to colder forecasts can lift prices and shares, while a warm stretch can sap heating demand and leave producers staring at softer realizations.
Related articles: NYSE:EQT
