Glencore Plc projects its commodity-trading profits will exceed $5 billion this year, positioning it for one of its strongest financial performances in history. The surge is attributed to significant shifts in crude oil, refined products, gas, and freight markets, according to a company statement. This achievement would mark Glencore’s best result since its 2022 record, when energy markets were disrupted by Russia’s invasion of Ukraine.
In 2026, traders are benefiting from extreme energy price fluctuations driven by the Iran war and regional market dislocations. Rising freight costs due to Strait of Hormuz disruptions, along with higher copper and coal prices, have further boosted earnings. Shares in the London-listed firm rose as much as 2.8%, reflecting improved near-term forecasts and increased long-term pretax earnings guidance.
From 2027, Glencore anticipates its marketing division will generate $2.8 billion to $4.2 billion annually. The company has consistently surpassed its long-term profit targets, driven by commodity price movements, inflation, and expanded commercial opportunities. In August, it reported $10.1 billion in core earnings for the first half, an 86% increase compared to the previous year.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing