Glencore Anticipates $3.3 Billion Trading Profit Amid Iran War-Driven Market Volatility
Commodity trading giant Glencore is expected to report a first-half marketing adjusted EBIT of approximately $3.3 billion, driven by extreme volatility in energy markets caused by the war with Iran. The company's Marketing segment includes oil and other commodity trades that have benefited from sharp price swings over recent months. This performance surpasses its 2025 full-year trading profit of $2.9 billion within just six months this year, suggesting a potential record-breaking annual result if current market conditions persist. Glencore previously recorded an all-time high marketing EBIT of $6.4 billion in 2022 during the Ukraine war. Other major energy firms with strong trading divisions are also seeing gains from increased volatility. Shell is expected to report significantly higher oil and LNG trading results for Q2, which it will disclose on July 30.
Topics: commodity trading geopolitical impact oil markets profit forecast