Trump Sold Exxon Stock on Ceasefire Day Despite Past Criticisms of Big Oil
ZeroHedge ·
President Donald Trump’s investment portfolios offloaded between $500,000 and $1 million in ExxonMobil shares on April 7, coinciding with his announcement of an Iran war ceasefire and preceding a 6.5% drop in the stock price the following morning, CBS News reported. Financial disclosures reviewed by the network showed Exxon closed at $163.91 on April 7 before opening at $153.52 the next day. This transaction formed part of extensive trading activity spanning major energy firms like Chevron and ConocoPhillips during the first half of 2026. The conflict and resulting supply bottlenecks in the Strait of Hormuz propelled crude values upward, yielding historic profits including $14.5 billion for Exxon and $12.2 billion for Chevron in the second quarter. Trump later criticized the energy sector for generating excessive earnings and demanded lower fuel costs. The White House stated that the president does not manage the trades personally.
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President Donald Trump's investment account was reported to have sold between $500,000 and $1 million worth of ExxonMobil shares on April 7, the day of the Iran war ceasefire announcement. Immediately following this sale, Exxon's stock opened down 6.5%. While refineries recorded massive earnings in the second quarter due to the Iran war and disruptions in the Strait of Hormuz, downward pressure is now being exerted on the energy market alongside news of the ceasefire.
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- Energy — Growing expectations that the Iran war ceasefire announcement will resolve crude oil supply disruptions in the Strait of Hormuz lead to lower oil prices and narrowed refining margins, acting as a direct negative factor for the stock prices and earnings of major refiners.
- Crude Oil — The easing of geopolitical conflict and the ceasefire declaration immediately lower crude oil supply risks, which serves as a factor that intensifies the downward trend in crude oil futures and price adjustment pressures across the broader energy market.
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Driven by crude oil supply disruptions in the Strait of Hormuz resulting from the Iran war, major US refineries such as ExxonMobil and Chevron posted record-high performance with a combined net profit of $26.5 billion in the second quarter alone. However, as geopolitical risks eased with the ceasefire announcement, expectations for stabilized crude oil supply grew, directly translating to concerns over declining stock prices and slowed earnings for energy companies, thereby exerting downward pressure on stock prices.
Going forward, the sustainability of the ceasefire agreement and the recovery rate of crude oil traffic in the Strait of Hormuz will serve as key indicators. If crude oil supply normalizes completely, energy stocks could face additional price correction pressure, whereas if geopolitical tensions are reignited, a rebound in crude oil prices will test their earnings defense capabilities.
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