US Congress Report Says Trump Oil Holdings Rose 39% on Iran War, Potential Gain $15.5 Million
A US congressional report says Trump's oil and gas holdings rose about 39% in 2026 amid the Iran war, potentially earning him up to $15.5 million. Based on his 2025 annual financial disclosure, the holdings were valued between $12.5 million and $45.6 million, rising to an estimated $17.2 million to $61.1 million by August 17, 2026. The report also found Trump bought up to $3.6 million in additional oil and gas stocks in the first quarter of 2026. Democrats said they would investigate if they win either chamber in the November midterm elections.
The report is based on Trump's 2025 annual financial disclosure, which declared oil and gas stock values ranging from $12.5 million to $45.6 million. As of August 17, 2026, these holdings had risen an average of about 39% for the year, with estimated values climbing to between $17.2 million and $61.1 million. Because federal disclosure documents provide only ranges of asset values rather than exact amounts, precise gains cannot be calculated.
The report said Trump's largest declared energy holdings include ExxonMobil and Chevron, and his shares in Valero Energy and Marathon Petroleum have more than doubled since the start of the year. The analysis assumes Trump continued to hold the positions disclosed at the end of last year. The Trump Group previously said Trump's investments are held in discretionary accounts managed by independent financial institutions, which have "sole and exclusive authority" over investment decisions, and that Trump and his family are not informed of transactions in advance and do not participate in specific investment decisions. The White House and the Trump Group did not respond to requests for comment.
Democratic committee staff also found that Trump purchased up to $3.6 million in additional oil and gas stocks in the first quarter of 2026, including Chevron shares bought within weeks of US action against Venezuela. The report links the gains to rising oil prices during the Iran war, estimating that major oil and gas producers recorded about $125.2 billion in profits in the first half of 2026, while US consumers' spending on gasoline has increased by an estimated $71.5 billion since the war began.
The report intensifies scrutiny of Trump's unusually large and actively traded portfolio. Democrats said they would investigate Trump's stock trading if they win control of either chamber of Congress in the November midterm elections. Earlier disclosures showed Trump reported more than 21,000 securities transactions across eight investment accounts in 2025, holding at least $858 million in assets.