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Oil and copper price swings lift Glencore first-half profit to $4.4B
Glencore said disrupted energy, freight and other markets drove the 142 percent year-over-year jump in marketing earnings to near record levels.
Glencore reported net income attributable to equity holders of $4.405 billion for the first half of the year, reversing from a $655 million loss in the same period of 2025, as rallies in oil and copper prices and heightened volatility helped boost trading results, OilPrice reports.
The company said adjusted core earnings, measured as EBITDA, rose 86 percent to $10.1 billion, while revenues climbed 49 percent to $174 billion. It also guided that marketing adjusted earnings before interest and tax (EBIT) more than doubled to $3.3 billion.
Glencore attributed the performance to materially disrupted energy, freight and other markets during the period, citing the impact of extreme volatility linked to the Iran war that generated windfall earnings for energy commodity traders.
OilPrice added that Glencore’s trading profit is on track for its best year ever if energy markets continue to whipsaw, and noted the marketing division recorded its highest full-year marketing EBIT in 2022, when the Ukraine invasion upended energy flows and helped push oil to around $120 per barrel.
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