Trump Oil And Gas Trades Continued During Iran War, Disclosures Show
President Trump's investment accounts continued trading oil and gas stocks during the Iran war, filings show.[1]
The filings show his accounts executed thousands of trades through the second quarter of 2026, including hundreds of thousands of dollars in Chevron, ConocoPhillips and other energy stocks.[1] On April 7, 2026, the accounts sold between $500,000 and $1 million of ExxonMobil stock, and Exxon's share price fell the next day after his ceasefire announcement.[1] Democrats on the Joint Economic Committee estimate Mr. Trump's oil and gas holdings rose from $13-46 million to $17-61 million between early 2026 and mid-August.[1] The White House said independent managers using computer-based model portfolios direct all trades and that neither Mr. Trump nor his family can influence timing or asset selection.[1]
In January 2025, after his reelection, Mr. Trump announced he would not place his assets in a blind trust. He instead transferred management to his sons through a revocable trust while keeping individual stocks visible in third-party discretionary accounts run by outside managers. His 2025 financial disclosure, filed in 2026, reported up to $45.6 million in oil and gas holdings, and Democrats later highlighted thousands of trades and profitable energy positions as the Iran conflict pushed prices higher.
Every president since Jimmy Carter placed personal business interests or individual stock holdings into a blind trust or sold them, with Mr. Trump as the exception. That arrangement has left critics calling for tighter ethics rules, while legal experts note the president and vice president remain exempt from the criminal conflict-of-interest statute.
The mainstream summary does not mention the significant financial implications of Trump's oil and gas trades during the Iran conflict, particularly the increase in his holdings from up to $45.6 million at the end of 2025 to $61.1 million amid rising gas prices that cost Americans an additional $71.5 billion at the pump. This perspective is critical as it highlights the direct financial benefits Trump reaped from the conflict, which raises ethical questions about his financial interests during a time of geopolitical tension. Furthermore, the summary frames Trump's management of his investments as independent and removed from personal influence, yet critics, including @CREWcrew and @NRDems, argue that the timing of his trades suggests otherwise, indicating a potential conflict of interest that the mainstream account downplays.
Additionally, while the summary notes that Trump is the only president since Jimmy Carter not to place his assets in a blind trust, it does not emphasize the broader implications of this decision. The exemption of the president and vice president from the criminal conflict-of-interest statute is crucial, as it underscores a systemic loophole that allows for potential exploitation of insider information for personal gain, a point that is elaborated upon in discussions surrounding the ethics of congressional stock trades. This context is essential for understanding the gravity of Trump's trading activities during the Iran war and the ongoing calls for stricter ethics regulations in government.[2][3]
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📊 Relevant Data
Every U.S. president since Jimmy Carter has placed personal business interests or individual stock holdings into a blind trust or sold them off to address potential conflicts of interest, with the exception of Donald Trump.
Paying the President — ProPublica
The president and vice president are exempt from the criminal conflict-of-interest statute (18 U.S.C. § 208) that prohibits other federal employees from participating in matters affecting their financial interests.
Introduction to Government Ethics: Chapter 9 Conflicts of Interest — Open Casebook
📌 Key Facts
- Through second-quarter 2026, Trump’s accounts executed thousands of trades across sectors, including hundreds of thousands of dollars in Chevron, ConocoPhillips and other oil and gas stocks.
- On April 7, 2026, his investment accounts sold between $500,000 and $1 million of ExxonMobil stock; Exxon closed at $163.91 that day and opened at $153.52 on April 8 after his ceasefire announcement.
- Democrats on the Joint Economic Committee estimate the value of Trump’s oil and gas holdings increased from $13–46 million to $17–61 million between early 2026 and mid-August 2026.
- The White House says independent managers using computer-based model portfolios direct all trades and that neither Trump nor his family can influence timing or asset selection.
- Trump has declined to use a blind trust and instead holds individual securities, which remain visible even in sectors directly affected by his foreign and energy policy decisions.
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