--- title: "Middle East geopolitical conflicts drive up energy trading profits, Glencore's trading division profits doubled in the first half of the year" type: "News" locale: "en" url: "https://longbridge.com/en/news/294170212.md" description: "Glencore announced on July 29 that its marketing division (including energy trading) is expected to achieve a profit of USD 3.3 billion in the first half of the year, doubling year-on-year and marking the second-highest record since 2022. The performance growth was mainly driven by rising energy prices and market volatility due to geopolitical conflicts in the Middle East. Analysts pointed out that this performance exceeded expectations, boosting market confidence and driving the stock price up by 4%. The company did not provide full-year guidance to address the uncertainty of the situation, and the complete financial report will be released next week" datetime: "2026-07-29T07:48:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294170212.md) - [en](https://longbridge.com/en/news/294170212.md) - [zh-HK](https://longbridge.com/zh-HK/news/294170212.md) --- # Middle East geopolitical conflicts drive up energy trading profits, Glencore's trading division profits doubled in the first half of the year Swiss commodity trading giant Glencore released a production report on July 29, stating that its marketing division (including energy trading) is expected to achieve a profit of USD 3.3 billion in the first half of this year, nearly doubling from the same period last year. This figure is the second-highest record since the energy crisis triggered by the Russia-Ukraine conflict in 2022, exceeding analysts' expectations by USD 1 billion. The significant growth in performance is mainly attributed to the severe fluctuations in the energy market and soaring fuel prices caused by geopolitical conflicts in the Middle East. Since the end of February, when the U.S. and Israel launched military actions against Iran, major global oil traders have reported exceptionally strong profit levels. Trafigura achieved a profit of USD 4.1 billion in the six months ending in March, while Mercuria's net profit doubled during the same period, recording the second-highest profit for the first half of the year in history. Glencore is one of the largest energy traders in the world, handling approximately 4.2 million barrels of oil equivalent per day last year. The company is also a major producer of coal and copper, with reports indicating a 15% year-on-year increase in copper production in the first half of the year, although it slightly lowered its full-year production guidance for metallurgical coal. This year, Glencore had negotiations with mining group Rio Tinto regarding transactions, but ultimately no agreement was reached. Analysts pointed out that the better-than-expected performance of the marketing business will boost market confidence in Glencore. The company's stock price rose 4% in early trading in London. Some analysts also noted that the company did not provide further guidance for the full-year marketing business, reflecting the high uncertainty brought about by the rapidly changing situation of the war in the Middle East. Glencore will release its complete financial report for the first half of the year next week ### Related Stocks - [GLNCY.US](https://longbridge.com/en/quote/GLNCY.US.md) - [GLEN.UK](https://longbridge.com/en/quote/GLEN.UK.md) - [RIO.US](https://longbridge.com/en/quote/RIO.US.md) - [RIO.UK](https://longbridge.com/en/quote/RIO.UK.md) - [RIO.AU](https://longbridge.com/en/quote/RIO.AU.md) - [RTPPF.US](https://longbridge.com/en/quote/RTPPF.US.md) ## Related News & Research - [Glencore's Traders Gain as Iran Conflict Upends Commodities Markets — Update](https://longbridge.com/en/news/294188319.md) - [Glencore (GLEN): New Buy Recommendation for This Basic Materials Giant](https://longbridge.com/en/news/293994201.md) - [Atmos Energy (ATO) to Announce Earnings on Wednesday](https://longbridge.com/en/news/294197419.md) - [WEC Energy Group (NYSE:WEC) Issues FY 2026 Earnings Guidance](https://longbridge.com/en/news/294207375.md) - [Energy Transfer (ET) Projected to Announce Earnings on Tuesday](https://longbridge.com/en/news/294065802.md)