As Trump brags about U.S. oil and gas company profits, his stocks gained millions during Iran war
Updated on: October 26, 2026 / 9:52 AM EDT / CBS News
TL;DR
- President Trump's oil and gas stock holdings have increased in value by millions during the Iran war.
- The value of his oil and gas stocks grew from an estimated $12.6 million-$46 million to $22.5 million-$81.6 million.
- Trump has publicly celebrated large profits for U.S. oil and gas companies amid the conflict.
- Americans are experiencing significantly higher gas prices due to the war's effects.
- Critics, like Senator Maggie Hassan, point to potential conflicts of interest due to the president's financial ties to the energy sector.
- Trump's financial disclosures show purchases of between $4.7 million and $17.5 million in oil and gas stocks since the war began.
- Energy stocks have surged, outperforming the broader market, with companies like Chevron and ExxonMobil seeing significant price increases.
- The White House states that Trump's portfolio is managed by third parties with no family input, asserting no conflicts of interest.
- The cost of a gallon of regular gas has risen from $2.87 to $4.29 since the war's start.
- The president has taken some actions to address fuel prices, including invoking the Defense Production Act and attempting deals for diesel fuel.