Glencore, a major commodity trader, reported a significant increase in energy trading profits in the first half of 2026. The company’s adjusted earnings before interest and taxes (EBIT) from energy trading rose to $2.66 billion, up from $40 million a year earlier.
Market Turmoil
The increase in profits is attributed to the market turmoil created by the Iran war, which has led to a surge in crude, fuel, and LNG prices. Glencore’s CEO, Gary Nagle, stated that the company’s Oil and Gas department was the primary contributor to the increase in profits, benefiting from significant dislocations across LNG, oil, and shipping markets.
Glencore’s trading volumes also surged to around 5.2 million barrels per day of crude and fuels, a 24% increase from the 2025 average. The company’s shares were up 3.4% at 1130 GMT.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
