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

As Trump brags about U.S. oil and gas company profits, his stocks gained millions during Iran war

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.