Overview
- Glencore reported on Wednesday that Group adjusted EBITDA rose to about $10.1 billion and net income attributable to equity holders to roughly $4.4 billion for the first half of 2026.
- The marketing and trading arm delivered sharply higher earnings, with trading/marketing EBIT reported in the $2.6–$3.3 billion range driven by dislocations in oil, LNG, refined products and shipping.
- Crude and fuels trading volumes jumped to about 5.2 million barrels per day as the company increased positions and trading activity while markets were volatile.
- Glencore announced roughly $1.5 billion of additional shareholder returns, bringing total announced 2026 returns to about $3.5 billion, and said it will seek a secondary listing on the Australian Securities Exchange.
- Reporting said the firm sought board waivers to let traders exceed normal position limits, a governance detail that, together with Glencore's integrated production, trading and logistics model, helps explain why it has profited when supply routes and inventories were disrupted and why analysts expect elevated trading returns if volatility persists into H2 2026.