President Donald Trump’s nine largest disclosed oil and gas holdings gained an estimated $1.5 million to $4.4 million in paper value from Feb. 27 through Aug. 31 as the war with Iran lifted energy stocks. The portfolio included Chevron, ConocoPhillips, Exxon Mobil, Kinder Morgan, Marathon Petroleum, Occidental Petroleum, Phillips 66, Valero Energy and Williams Companies. Financial disclosures do not provide share counts, execution prices or the origin of sold shares, so the estimates are not realized profits or exact current positions. Trump’s accounts reported purchases and sales around policy developments that moved oil markets, prompting conflict-of-interest concerns from ethics groups. The White House said independent managers exclusively control the investments and neither Trump nor his family can influence transactions. Democratic staff on the Joint Economic Committee estimated Trump’s broader oil and gas portfolio had gained as much as $15.5 million this year, while lawmakers said they may investigate his trades and family business activities if Democrats win either chamber of Congress in November. The gains came amid severe Middle East supply disruptions. Brent crude rose above $100 a barrel intraday, while U.S. crude was around $91 a barrel as of last Friday, 36% above pre-war levels. The nine companies reported combined second-quarter profit of $47.6 billion, compared with $15.9 billion a year earlier, while the Joint Economic Committee estimated Americans had paid $71.5 billion more for gasoline since the war began.