Glencore Made More Money Trading Commodities in Six Months Than It Expected All Year

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LONDON—Commodities giant Glencore PLC said Friday it made more money trading oil, metals and other commodities in six months than it had expected to make all year, citing unprecedented volatility in markets in the wake of the global recovery from the pandemic and the invasion of Ukraine.

Glencore said its trading division expects to post half-year earnings before interest and taxes of more than $3.2 billion, at the top end of the company’s full-year guidance. In the whole of 2021, the division generated earnings of $3.7 billion. Shares were up nearly 4% in early London morning trading.