Trump has made millions from oil and gas stocks while the Iran war drives gas prices and inflation higher for everyone else — bad for regular Americans, good for him and other oil shareholders.

• Oil company profits exploded as the war choked off supply through the Strait of Hormuz, with Exxon and Chevron earnings multiplying from a year ago.
• Trump's nine biggest disclosed oil and gas holdings gained millions since the war began, and a congressional estimate puts his broader oil portfolio up as much as $15 million this year.
• The timing of the trades looks suspicious: his accounts bought heavily the day oil crashed on news he was delaying strikes, and sold a large Exxon stake hours before he announced a ceasefire that sent the stock down.
• Publicly he attacked Chevron and Exxon for "making too much money" and demanded they cut prices — while profiting from those same high prices.
• The White House says independent managers handle all his investments and there is no conflict of interest.

Outlook: Nothing is likely to change, since Congress keeps promising a stock-trading ban and never passes one.