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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting escalating political tensions in the energy sector, former President Donald Trump called on the US Justice Department to investigate major oil companies for price gouging. According to reports, the request comes as crude oil prices have returned to pre-war levels while gasoline prices remain elevated, prompting accusations that oil companies are profiteering at the expense of consumers.
The political pressure arrives amid mixed trading in major oil stocks. Exxon Mobil (XOM) closed at $137.44 on June 25, 2026, while Chevron (CVX) ended at $171.45 on June 24, 2026, per market data. Other peers such as BP ($37.86) and Shell ($78.81) also traded in recent sessions, reflecting relative sector stability despite the regulatory uncertainty.
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Sign InInvestors are closely watching for any formal DOJ action that could impact the sector, as a probe might lead to fines or regulatory changes squeezing profits. This coincides with broader geopolitical uncertainty, leaving energy stocks vulnerable to near-term volatility, especially with no clear catalysts on the upcoming economic calendar.