How much did Glencore's energy trading EBIT increase in the first half of 2026 compared to the same period last year, and what was the absolute figure?

Glencore's energy trading adjusted earnings before interest and taxes (EBIT) surged to $2.66 billion in the first half of 2026, up from just $40 million a year earlier — representing a 66-fold increase.

What market conditions driven by the Iran war contributed to Glencore's record energy trading profits?

Crude, fuel, and LNG prices hit all-time record or multi-year highs earlier in 2026 as the Iran war effectively halted tanker traffic leaving the Gulf, causing significant dislocations across LNG, oil, and shipping markets — which Glencore's Oil and Gas department capitalized on as the primary contributor to its profits.

Glencore Energy Trading Profits Surge Amid Iran War

Aug 5, 2026

Glencore's energy trading profits surged 66-fold to $2.66 billion in H1 2026, driven by Iran war-induced market turmoil. Trading volumes rose 24% as crude and LNG prices hit record highs amid disrupted tanker traffic.

reuters

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