Trump's oil and gas stocks gained millions during Iran war
Summary
A report by Democratic members of the Congressional Joint Economic Committee says President Donald Trump’s oil and gas stock holdings rose in value after the Iran war began. It estimates those holdings at $22.5 million to $81.6 million, up from $12.6 million to $46 million at the end of 2025, while fuel prices and energy-company shares also climbed.Key Facts
- The report says Trump’s oil and gas stocks gained an average of 43% in value since the end of 2025.
- Between March and the end of August, Trump reported buying $4.7 million to $17.5 million in oil and gas stocks and selling $2 million to $5.4 million in the sector.
- The estimates draw on financial filings to the Office of Government Ethics and market data from LSEG; filings disclose transaction ranges rather than exact amounts.
- The White House says independent financial institutions manage Trump’s portfolio and that neither Trump nor his family directs investment decisions.
- Trump said oil and gas companies were making hundreds of billions of dollars amid the conflict and said oil prices would fall after the war ends.
- The article reports average U.S. gasoline prices rose from $2.87 per gallon in early February to $4.29, while diesel rose from $3.68 to $6.28.
- Brent crude was above $115 a barrel, compared with less than $75 the day before the war began.
- Energy companies listed on the S&P 500 had gained more than 50% since the start of the year, compared with about 11% for the broader index.
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