Geopolitical dividend? Trump's oil and gas holdings could see profits of up to $15.5 million this year; Democrats plan to investigate his trading activities if they regain Congress

Jit Tong Finance APP has learned that a report by Democratic staff of the United States Congress Joint Economic Committee shows that, due to the sharp rise in energy stocks during the Iran War, U.S. President Donald Trump's oil and gas stock holdings may have increased in value by as much as $15.5 million this year.

According to the 2025 annual financial disclosure report, Trump holds oil and gas stocks worth between $12.5 million and $45.6 million. The committee estimates that as of August 17, these holdings have increased by an average of about 39% this year, with their valuation rising to a range of $17.2 million to $61.1 million.

Trump's largest declared energy stock holdings include ExxonMobil (XOM.US) and Chevron (CVX.US), while his reported holdings in Valero Energy (VLO.US) and Marathon Petroleum (MPC.US) have doubled since the start of the year.

The committee’s analysis assumes that Trump continues to hold the assets disclosed at the end of last year. Because federal disclosure rules require only broad value ranges rather than precise figures, it is not possible to calculate his exact returns.

White House spokesperson Davis Engle responded: “Neither President Trump nor his family members have the authority to direct, influence, or provide any input regarding the configuration or timing of trades in their investment portfolio. All investment decisions are made entirely by independent managers.”

The Trump team has stated that the investment funds are held in discretionary accounts managed by independent financial institutions, which have “sole and exclusive authority” over investment decisions. The team says that Trump and his family are not informed of transaction details in advance and do not participate in specific investment decisions. The Trump team did not respond to a request for comment on this report.

Conflict of Interest Controversy Heats Up

The publication of this report has further intensified external scrutiny of Trump's unusually large and actively traded investment portfolio. Democrats have stated that if they regain control of either house of Congress in the November midterms, they will launch an investigation into Trump’s stock trading activities.

Media reports previously indicated that Trump declared more than 21,000 securities transactions in 2025, involving eight investment accounts, with total assets of at least $858 million.

Democratic committee staff also found that Trump increased his oil and gas stock holdings by up to $3.6 million in the first quarter of 2026, including buying Chevron shares within weeks after the United States took action against Venezuela.

The Democratic staff report links these gains to rising oil prices during the Iran War and estimates that major oil and gas producers earned approximately $125.2 billion in profits in the first half of 2026, while since the outbreak of the war, the American public has spent about $71.5 billion more on gasoline.