Related Articles
Glencore's headquarters in Zug, Switzerland
Forward article link
Share PDF with colleagues

Glencore fails to repeat oil trading success

A less volatile 2021 offers fewer opportunities for profit

Commodity trader Glencore recorded an adjusted Ebit of $672mn in the first half of 2021, down by 47pc compared with $1.265bn the same period last year as the firm’s traders found the oil market less conducive to delivering the record returns available in H1 2020. An improved contribution from the firm’s coal trading was not enough to offset “a return by oil back to within its more normal range, albeit towards the top end”. “Exceptional price movements and dislocations enabled our oil department to deliver a record half-yearly performance in H1 2020,” the firm says. But “due to a steadily increasing oil price trend this year, volatility was rather muted, with Brent near-dated implied volatil



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Gas at the heart of Iraq’s transition
21 October 2021
While oil has grabbed the headlines for Iraq, tapping its gas potential could transform the country’s economic fortunes
Petrobras’ downstream dilemma
21 October 2021
President Bolsonaro considers privatising the NOC as fuel prices climb and divestments drag
Corallian seeks bidders
21 October 2021
The pre-production North Sea independent has put itself up for sale
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video