Comstock jumps 34.3% as refining stocks surge 2.5%

Oil and gas refining and marketing stocks surged Monday, with the group up 2.5% as Comstock led gains with a 34.3% jump and OPAL Fuels rose 5.1%. The rally came as broader energy markets showed strength, lifting refining and marketing names that process and distribute fuel to consumers and businesses.

The rise follows a volatile weekend for oil prices, with Brent crude holding above $80 a barrel after supply concerns kept pressure on markets. Analysts say the refining sector is benefiting from steady demand for gasoline and diesel ahead of peak summer driving season in the U.S. and Europe. Refining stocks often track crack spreads— the difference between crude prices and refined product prices—which have widened recently, boosting profit margins.

Comstock Resources, a Texas-based natural gas and oil producer with downstream operations, led the charge after reporting better-than-expected quarterly earnings and strong operational performance. OPAL Fuels, which operates renewable natural gas facilities, saw its stock rise alongside broader clean energy optimism and increased investor interest in alternative fuel infrastructure. The group’s average gain of 2.5% outpaced the S&P 500’s modest advance, signaling strong relative strength in energy midstream and downstream plays.

What happens next may depend on oil price direction and seasonal demand trends. If crude stays elevated and refinery margins remain wide, more gains could follow. But any slowdown in fuel demand or a sudden drop in oil prices could reverse the gains. For now, investors are betting on steady refining profits through the summer—even as global energy markets stay on edge.