Adjusted core earnings soared 86% to $10.1 billion, while total revenues climbed 49% to reach $174 billion. The company’s marketing division proved particularly lucrative, with adjusted earnings before interest and tax (EBIT) more than doubling to $3.3 billion. Glencore attributed this performance to severe disruptions in energy, freight, and commodity markets. These results echo the record-breaking conditions of 2022, when geopolitical upheaval and energy supply imbalances pushed the company’s annual marketing EBIT to a peak of $6.4 billion.
Glencore Profits Surge as Market Volatility Drives Trading Gains
A $4.4-billion net income for the first half of the year marks a sharp reversal for Glencore, which recorded a $655-million loss during the same period in 2025. The commodity giant’s financial rebound stems from rallying oil and copper prices alongside extreme market volatility that favored its trading desks.
CEO Gary Nagle expects volatility to persist through the second half of 2026, though likely at a tempered intensity compared to the first six months. He emphasized that the firm’s logistics and risk management capabilities remain the primary drivers of its ability to navigate current market imbalances. If energy prices continue to fluctuate at current levels, the firm remains on track to secure one of its most profitable years in history.
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