The Swiss-headquartered commodities group moved to let traders take larger positions as swings in energy and metals markets helped push first-half 2026 marketing EBIT to roughly $3.3 billion.
Glencore sought board approval to let traders exceed normal position limits in the early days of the US war on Iran, as sharp swings in energy and metals markets created unusually large trading opportunities. The move adds to a profit picture already buoyed by record copper prices, energy market gains and a near-best-ever showing from the company's trading business. Bloomberg reported the marketing division generated roughly $3.3 billion in earnings before interest and taxes in the first half of 2026, more than it made from trading in all of 2025. Analysts say continued disruption in the second half could make 2026 one of Glencore's most profitable trading years on record, helped by its ability to move physical commodities through a stressed logistics network.