Glencore's Energy Trading Profits Soar on Iran War

3-line summary

• Glencore booked $2.66 billion in first-half adjusted EBIT from energy trading, up from just $40 million a year earlier — a 66-fold increase — as the Iran war disrupted oil, LNG and shipping markets, according to the report.
• Trading volumes rose to about 5.2 million barrels per day, up roughly 24% from Glencore's 2025 average, joining BP, Shell, TotalEnergies and Trafigura in reaping large trading profits this year, per the report.

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