So, oil stocks are having a moment. After the U.S. carried out attacks against Iran over the weekend, sending geopolitical risk premiums through the roof, shares of the big energy companies did what they often do in such situations: they went up. Way up.
On Monday, Chevron and Exxon Mobil shares hit all-time highs. ConocoPhillips wasn't far behind, touching a fresh 52-week high. The logic is pretty straightforward—tension in the Middle East threatens supply, which can push oil prices higher, which is generally good news for companies that produce the stuff.
But here's where it gets a bit more interesting. It turns out several members of Congress have been buying these exact stocks. Let's take a look at who has skin in the game, based on public financial disclosures from 2025 and early 2026.
Who in Congress Owns Chevron Stock?
According to the disclosures, at least two lawmakers reported buying Chevron stock last year.
Rep. Bruce Westerman (R-Ark.) bought between $1,000 and $15,000 worth on March 3, 2025.
Sen. Markwayne Mullin (R-Okla.) was more active. He bought a chunk valued between $50,000 and $100,000 on May 13, 2025, and then added another $15,000 to $50,000 worth on December 29, 2025.
Who in Congress Owns Exxon Mobil Stock?
The list for Exxon Mobil is a bit longer, showing trades from four different members.
Rep. Lisa McClain (R-Mich.) had a busy few months in 2025. She made two purchases in June and July, each between $1,000 and $15,000. Then, on a single day in October, she both sold and bought within that same range, only to sell again the very next day. It was a flurry of activity.
Sen. Angus King (I-Maine) bought $1,000 to $15,000 worth on July 21, 2025.
Rep. Dan Newhouse (R-Wash.) bought a similar amount on August 18, 2025.
Sen. John Boozman (R-Ark.) got in on the action more recently, reporting a purchase of $1,000 to $15,000 on January 8, 2026.
Who in Congress Owns ConocoPhillips Stock?
Three lawmakers showed up in the disclosures for ConocoPhillips.
We see Sen. Markwayne Mullin again. He sold $15,000 to $50,000 worth on April 8, 2025, then turned around and bought a similar amount on May 13, 2025. He made another purchase in the $15,000 to $50,000 range on December 29, 2025.
Rep. Rob Bresnahan (R-Pa.) had a mixed record. He sold twice in early 2025 but then bought a larger position—$15,000 to $50,000—on May 15, 2025.
Rep. Dan Newhouse also bought ConocoPhillips stock on August 18, 2025, the same day he bought Exxon shares.
The Potential Conflict-of-Interest Question
This is the part that makes people raise an eyebrow. Members of Congress who own shares in these oil giants could financially benefit from events like the recent strikes on Iran, which directly impact the companies' prospects.
The concern is amplified when you consider that some of these lawmakers serve on committees related to defense and homeland security. In theory, that could give them access to non-public information about military actions or foreign policy decisions that move oil markets.
Some members, like Mullin and Newhouse, own shares in two or even three of these companies, potentially positioning them for significant gains if tensions persist and oil prices keep climbing. The article also notes that some own defense stocks, which also rallied on Monday.
Public statements from these lawmakers on the conflict will likely face increased scrutiny given their personal financial holdings. It's a classic Washington dilemma: the line between policymaking and personal portfolio management.
A crucial disclaimer: these disclosures are a snapshot in time. They show what was bought (or sold) on a specific date in 2025 or early 2026. There's no public, real-time ledger. Any of these members could have sold their shares the day after filing the paperwork, and we wouldn't know until their next periodic report. So, while the data shows ownership at a point in the past, it doesn't guarantee current ownership.
