Oil stocks have soared in recent months as the attacks by the U.S. on Iran have sent the price of oil higher and could continue to put pressure on the commodity and rising gas prices for consumers. One member of Congress recently disclosed buying shares of an oil stock that could benefit from military action in Iran by President Donald Trump.

• BP stock is trading at elevated levels. What’s next for BP stock?

Democratic Congressman Buys Oil Stock

Congressman Jonathan Jackson (D-Ill.) recently disclosed buying shares of BP PLC (NYSE:BP) after the first strikes by the U.S. on Feb. 28 in Iran. Here are the transactions, as reported by Quiver Quantitative:

  • March 19: Bought $15,001 to $50,000 in BP shares
  • March 20: Bought $1,001 to $15,000 in BP shares

Both transactions are listed as being code "JT," which means the stock could be part of a joint holding account with a spouse.

Jackson last bought BP stock back in May 2023, shares that were later sold in January 2024. The timing of the purchase along with his committee assignment could make the transaction interesting to retail traders.

The congressman belongs to the House Committee on Foreign Affairs, which may give him extra information on the current Middle East tension and volatility for oil prices.

BP shares traded as high as $46.79 on March 19 and $45.69 on March 20. At a closing price of $46.44 on Monday, BP stock has not gained significantly since the congressman's purchases, but the trade will be closely monitored.

Shares of BP are up 29.6% year-to-date in 2026 and up more than 70% over the last 52 weeks. With shares trading at multi-year highs, members of Congress who buy BP stock and other oil stocks will continue to be monitored.

Jackson Opposes Attack on Iran

On April 7, Jackson took to social media to speak out against a social media threat from Trump warning that a "whole civilization" could face death if a deal was not reached between Iran and the U.S.

"The world stands witness as Trump announces his intent to commit war crimes so casually," Jackson tweeted. "Republicans continue to enable this illegal, reckless escalation by refusing to stand for Congress' Constitutional responsibility to rein in unchecked power."  

The purchase of BP stock by Jackson comes at a time when another member of Congress recently sold shares of several oil stocks.

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