EnergyWatch

Glencore trading profit on course to smash through record

The commodity trader heralds a new record in trading profit for the first half year made possible by increasing energy prices and market volatility.

Photo: Siphiwe Sibeko/Reuters/Ritzau Scanpix

Glencore Plc’s first half-profit from trading commodities will be bigger than it typically reports for an entire year, putting the resources giant on course for a record 2022 as it cashes in on soaring prices and volatility.

The commodity trading industry is enjoying its most profitable period ever, as Russia’s invasion of Ukraine sparks wild swings in markets that were already at or near record highs even before the war started, creating opportunities for the traders who transport the world’s resources. 

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