Trump's Oil Holdings Jump as War Lifts Fuel Costs

President Trump's personal holdings in oil and gas are now worth between $22.5 million and $81.6 million, compared with $12.6 million to $46 million at the end of 2025, according to a new report by Democrats on the Congressional Joint Economic Committee. The report found that the president purchased between $4.7 million and $17.5 million in oil and gas stocks between March, after the war began, and the end of August. He also sold between $2 million and $5.4 million in oil and gas stocks in the same timeframe. The report was obtained exclusively by CBS News and is based on the president's financial filings with the Office of Government Ethics.

The president added that his advisers told him not to mention how much money the oil and gas industry is making from the chaos in the Middle East. The wealthiest person to serve as president, Mr. Trump has a vast stock portfolio with holdings in all sectors of the economy. He has executed thousands of stock and securities trades this year, worth hundreds of millions of dollars, CBS News has reported. The White House Mr. Trump doesn't make trading decisions himself, and his money managers try to replicate major stock indices.

Energy stocks have surged as the Iran war pushed oil and gasoline prices to their highest levels in years, driving profits for oil companies. The share prices of energy companies that are listed on the S&P 500 jumped more than 50% since the start of the year. In early February, before the Iran war began at the end of February, nationwide, the average cost of a gallon of regular gas was $2.87, and a gallon of diesel cost $3.68. Now, eight months later, it's $4.29, with diesel at $6.28 per gallon. The global benchmark for crude oil, Brent, is also hovering above $115 a barrel, compared to less than $75 the day before the war began.

The president's stock purchases or total value may be even higher, since he has not yet reported transactions for September or October. Among the nine stocks that make up the largest oil and gas holdings in Mr. Trump's portfolio, Chevron and ExxonMobil represent the most significant portion. He owns up to $23.1 million in Chevron stock and up to $18.4 million in ExxonMobil, which saw their stock prices grow nearly 25% and nearly 22% in value, respectively, since Feb. 20. The minority said the president's stock purchases or total value may be even higher, since he has not yet reported transactions for September or October.

Democrats on the committee estimated American families have spent an average of $856 more on gas since the war began. The continues to be a top issue for voters. Last week, Mr. Trump accused Iran of trying to drive up oil prices ahead of next week's U.S. elections.