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Glencore's Energy Trading Profits Surge
Glencore Commodities experienced record profits from energy trading in the first half of 2026, reaching $2.66 billion—more than a 66-fold increase compared to the same period last year. This surge was driven by market disruptions caused by the Iran war. The company benefited from rising oil and liquefied natural gas prices, with trading volumes increasing to approximately 5.2 million barrels per day, significantly boosting its earnings. The CEO indicated that the oil and gas division was the main contributor to these profits, due to substantial changes in energy and supply markets.
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