What were Glencore's adjusted EBITDA and net profit for H1, and how did they change year-on-year?

Glencore reported an adjusted EBITDA of $10.115 billion for H1, representing an 86% year-on-year increase; its net profit attributable to shareholders was $4.405 billion, marking a reversal from a $655 million loss in the same period of 2025.

How did the US–Iran conflict impact global energy markets and Glencore's performance?

The US–Iran conflict led to the de facto closure of the Strait of Hormuz and attacks on multiple smelters in the region, causing severe supply disruptions in oil and metals like aluminum; this triggered sharp price volatility, longer shipping distances, and a restructuring of trade flows—conditions that generated substantial arbitrage opportunities for Glencore as a global commodities trader.

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Glencore H1 Net Profit Surges Over $5 Billion Amidst Oil & Gas Market Volatility

Aug 6, 2026

Glencore reported a first-half net profit increase exceeding $5 billion amid volatile oil and gas markets driven by geopolitical tensions. The commodity trader capitalized on supply disruptions in key trade routes like the Hormuz Strait to generate significant arbitrage opportunities.

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