Trump’s Oil Holdings Surged to $81.6 Million During Iran War

The value of President Trump’s personal holdings in oil and gas stocks reached an estimated $81.6 million by the end of August. A report from the Democratic minority on the Congressional Joint Economic Committee places the current worth of these assets between $22.5 million and $81.6 million. This figure compares to a range of $12.6 million to $46 million at the end of 2025. The data, derived from LSEG Data Analytics, indicates an average value increase of 43% over that period.

The war with Iran began on February 28, 2026. In the months following the conflict’s start, the president’s accounts purchased between $4.7 million and $17.5 million in oil and gas stocks. He sold between $2 million and $5.4 million in the same sector during that timeframe. The report is based on financial filings with the Office of Government Ethics, which require officials to report transaction ranges rather than exact amounts. The committee noted that the total value may be higher because September and October transactions have not yet been reported.

Energy stocks have outperformed the broader market since the conflict began. S&P 500 energy shares have risen more than 50% year to date, while the overall index has grown by approximately 11%. Brent crude oil, the global benchmark, has hovered above $115 per barrel. This level stands in contrast to the price of less than $75 per barrel the day before the war started. In the United States, the average cost of a gallon of regular gas has climbed to $4.29. Diesel prices have reached $6.28 per gallon. These figures represent a sharp increase from the pre-war averages of $2.87 for gas and $3.68 for diesel in early February.

Sen. Maggie Hassan of New Hampshire, the top Democrat on the Joint Economic Committee, cited these figures in a statement. She stated that American families have spent an average of $856 more on gas since the war began. She argued that the president’s ownership of stocks in companies benefiting from his decisions raises concerns about conflicts of interest. The White House, through spokesman Davis Ingle, said the portfolio is independently managed by third-party financial institutions. Ingle said the holdings are maintained in discretionary accounts that replicate recognized indexes. He added that neither the president nor his family directs investment decisions or provides input on timing.

The president’s two largest energy holdings are in Chevron and ExxonMobil. His Chevron stake is valued at up to $23.1 million, while his ExxonMobil position is worth up to $18.4 million. Since February 20, Chevron stock has grown by nearly 25% and ExxonMobil by nearly 22%. On April 7, the day the president declared a ceasefire, his accounts sold between $500,000 and $1 million of ExxonMobil stock. The company’s share price closed at $163.91 that day. It opened the next trading day down more than 6% at $153.52.

Trump has publicly addressed the issue of high fuel prices. On Saturday night in Georgia, he told a crowd that U.S. oil and gas companies are making hundreds of billions of dollars. He said he was advised not to mention the industry’s profits but stated that the country is benefiting from the situation in the Middle East. He also noted that oil prices are temporarily high and will fall once the war ends. On Truth Social last week, he accused Iran of trying to drive up oil prices ahead of the U.S. midterm elections. He claimed that Iran is making up fake hits and mines to justify higher prices.

The administration has taken steps to address fuel costs. The president made a deal to purchase Russian diesel fuel and waived sanctions to facilitate the trade. He announced on Thursday that he would invoke the Defense Production Act to spend $150 million to boost gasoline and diesel production. U.S. Ambassador to the United Nations Mike Waltz told the Financial Times that the war could last another year. He expressed hope that Iranian leaders would come to the table before that timeframe. The next U.S. midterm elections are scheduled for next week.

Forbes estimated the president’s overall net worth at roughly $7 billion as of September. His energy stock trades constitute a small portion of that total. The White House maintains that the portfolio’s management replicates major stock indices, meaning the president does not make individual trading decisions. The Joint Economic Committee report is the first to detail the specific range of value changes in his energy holdings during the current conflict.