Trump’s oil and gas holdings gained as the Iran war drove up energy prices

Summary

CNBC analysis estimates President Trump's nine largest oil and gas holdings gained up to $4.4 million between late February and end-August as the Iran war lifted energy prices. Disclosures show active energy-stock trading during the first six months of the conflict, including an Exxon sale shortly before a ceasefire announcement and a next-day share drop. The White House says independent managers control the portfolio and there are no conflicts of interest, while ethics watchdogs argue a discretionary account is not a blind trust. The report focuses on ethics and conflict-of-interest questions rather than making an investment recommendation.

• CNBC analysis: Trump's nine biggest oil and gas holdings gained as much as $4.4 million during the Iran conflict.
• Higher energy prices tied to the Iran war benefited those oil and gas positions.
• Disclosures show Trump accounts actively bought and sold energy stocks in the first six months of fighting.
• An account sold up to $1 million of Exxon stock hours before a ceasefire announcement; Exxon fell the next morning.
• The White House says independent managers control Trump's portfolio and denies conflicts of interest.
• Ethics watchdogs say a discretionary account is not a blind trust because Trump knows his stakes.
• The segment is a news and ethics report, not an investment recommendation.