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Commodities

Glencore Sees $3.3 Billion Trading Profit as Iran War Rattles Oil Markets

Oilprice.com · 1h ago

Glencore Sees $3.3 Billion Trading Profit as Iran War Rattles Oil Markets

Commodity producing and trading giant Glencore expects to post a profit of $3.3 billion in its marketing division for the first half of the year, as extreme market volatility during the Iran war generated windfall earnings for the energy commodity traders. Glencore expects to report next week a strong half-year marketing adjusted earnings before interest and tax (EBIT) of about $3.3 billion in its Marketing segment, which includes oil trading, the company said on Wednesday in its half-year production report. The trading giant didn't specify how…

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