Trump Oil Holdings Jump as War With Iran Fuels Price Spike

President Donald Trump’s personal investments in the oil and gas sector have increased in value by an average of 43 percent since the end of 2025, according to a report released by Democrats on the Congressional Joint Economic Committee. The report indicates that the president’s holdings in these stocks are now valued between $22.5 million and $81.6 million, up from a range of $12.6 million to $46 million at the start of the year.

The analysis relies on financial disclosures filed with the Office of Government Ethics, which require officials to report transaction ranges rather than exact figures. Data from LSEG Data Analytics shows that Trump purchased between $4.7 million and $17.5 million in oil and gas stocks between March and the end of August. During the same period, his accounts sold between $2 million and $5.4 million in such stocks.

The rise in portfolio value coincides with a sharp increase in fuel costs for American consumers. The nationwide average price for a gallon of regular gasoline has climbed to $4.29, up from $2.87 in early February. Diesel prices have more than doubled to $6.28 per gallon from $3.68. Brent crude, the global benchmark for oil, is currently trading above $115 per barrel, compared to less than $75 before the war with Iran began on February 28.

On Saturday night, Trump addressed a crowd in Georgia where he claimed that U.S. oil and gas companies are making hundreds of billions of dollars due to the conflict. He stated that oil prices are temporarily high but will fall dramatically once the war ends and ships move through the Strait of Hormuz. The president said his advisers warned him not to discuss the industry’s profits, but he insisted the country is benefiting from the situation in the Middle East.

Sen. Maggie Hassan of New Hampshire, the top Democrat on the Joint Economic Committee, criticized the timing of the gains. She argued that while Big Oil profits soar and the president’s wealth grows, American families are paying $856 more on average for gas since the war began. Hassan noted that the president’s ability to trade stocks in companies that benefit from his decisions raises concerns about conflicts of interest, even though laws allow public officials to own securities.

The White House maintains that the president’s portfolio is managed independently by third-party institutions. Spokesman Davis Ingle stated that Trump and his family do not direct investment decisions, which are made by computer-based models that replicate major stock indices. Ingle emphasized that there are no conflicts of interest because the accounts are discretionary and managed by independent managers.

Among the largest holdings in Trump’s energy portfolio are Chevron and ExxonMobil. The report values his Chevron position at up to $23.1 million and his ExxonMobil position at up to $18.4 million. Both stocks have seen price increases of roughly 22 to 25 percent since February 20. A notable transaction occurred on April 7, the day Trump declared a ceasefire. His accounts sold between $500,000 and $1 million of ExxonMobil stock that day, and the share price opened down more than 6 percent the following morning.

The conflict continues to impact energy markets as the United States prepares for midterm elections next week. Trump has suggested that Iran is manipulating oil prices ahead of the vote and has not ruled out resuming strikes after the election. U.S. Ambassador to the United Nations Mike Waltz told the Financial Times that the war could last another year, though he hopes Iranian leaders will agree to negotiate before that time.