Glencore’s Traders Score Big Profits as War Rattles Energy Markets

Glencore Plc’s trading team made bumper profits as the Iran war roiled global commodity markets, with surging prices helping to put the firm’s marketing unit on course for one of its best-ever results.

Based on its first-quarter performance, full-year core earnings from the company’s trading unit would “comfortably” exceed the top end of its long-term guidance, which is set at $3.5 billion, Glencore said in a trading update on Thursday.