Glencore reports lower energy profits as oil trading volumes hit five year high
Glencore reported falling energy profits for a third year despite higher oil volumes. The firm cited well supplied markets while planning a shareholder return.
Insights:
Glencore plc reported its annual earnings today, February 18, 2026, revealing a third consecutive year of declining profitability in its energy trading division despite a significant rise in trading volumes. The company traded 4.2 million barrels per day of crude oil, oil products, and gas products, marking an 11 percent increase and its highest volume recorded since 2020. However, earnings before interest and taxes (EBIT) from energy and steelmaking coal trading fell 32 percent to $614 million, a sharp drop from the 2022 peak of $5.2 billion.
