Trump's oil holdings surge 43% amid Iran war, raising conflict of interest concerns - report

A Democratic congressional report reveals that President Trump's oil and gas investments surged 43% during the Iran war, raising conflict-of-interest concerns as US families spent an estimated $856 more on gasoline. The White House denies conflicts, stating the portfolio is independently managed.

A Democratic congressional report has found that President Donald Trump's oil and gas investments rose 43% in value during the eight-month war with Iran, raising conflict-of-interest concerns as American families face higher fuel prices. The report, obtained by CBS News, is based on Trump's financial disclosures to the Office of Government Ethics. It estimates his energy holdings increased from a range of $12.6 million to $46 million at the end of 2025 to between $22.5 million and $81.6 million. Democrats on the Joint Economic Committee also estimated that US families have spent an average of $856 more on gasoline since the war began. Chevron and ExxonMobil account for Trump's largest oil and gas holdings, valued at up to $23.1 million and $18.4 million respectively; their shares have risen nearly 25% and 22% since February 20. The White House rejected the allegations, with spokesman Davis Ingle stating that Trump's portfolio is independently managed by third-party financial institutions through automated investment models. Senator Maggie Hassan, the top Democrat on the committee, said Trump's actions raise major concerns about conflicts of interest. Trump has alternated between highlighting the financial benefits for US energy companies and blaming Tehran for rising prices, predicting that gas prices will drop sharply once the war ends.