U.S. President Donald Trump points to someone in the crowd after speaking at Sen. Darline Graham’s campaign rally at the Myrtle Beach Convention Center on August 21, 2026 in Myrtle Beach, South Carolina.
Saul Loeb | AFP | Getty Images
President Donald Trump’s oil and gas stock holdings may have increased by as much as $15.5 million this year as energy stocks soared amid the war with Iran, according to a new report from the Congressional Joint Economic Committee Democrats.
President Trump reported in his 2025 annual financial disclosure that he owns between $12.5 million and $45.6 million in oil and gas stocks. The commission claims these holdings have increased by about 39% on average through August 17 this year, with an estimated value of between $17.2 million and $61.1 million.
Among his greatest reported energy reserves are: exxon mobil and chevron,on the other hand, valero energy and marathon oilreported holdings, which has more than doubled since the beginning of the year.
The committee’s analysis assumes that Mr. Trump continues to maintain the position he made clear late last year. It’s impossible to accurately calculate his profits because federal disclosures report assets broadly, rather than in exact amounts.
The Trump Organization previously told CNBC that Trump’s investments are held in fully discretionary accounts managed by independent financial institutions with “sole and exclusive authority” over investment decisions. It said President Trump and his family were not given advance notice of the transactions and did not provide any input into individual investment decisions.
The White House and the Trump Organization did not respond to requests for comment.
The findings add further scrutiny to President Trump’s unusually large and actively traded investment portfolio. Democrats are expected to investigate President Trump’s stock trading if they take back either Congress in November’s midterm elections.
CNBC previously revealed that President Trump reported more than 21,000 securities transactions in eight investment accounts in 2025 and had assets of at least $858 million. CNBC linked JPMorgan Chase & Co., Charles Schwab, UBS, and Stevens & Co. to at least four of these accounts.
Democrats on the committee also concluded that President Trump purchased up to $3.6 million in additional oil and gas stocks in the first three months of 2026, including a purchase of Chevron stock in the weeks following the U.S. operation in Venezuela.
The Democratic staff report links the gains to higher oil prices during the Iran war. The report estimated that major oil and gas producers recorded profits of about $125.2 billion in the first half of 2026, while Americans have spent an estimated $71.5 billion more on gasoline since the war began.
