Glencore expects to report next week a strong half-year marketing adjusted earnings before interest and tax (EBIT) of about $3.3 billion in its Marketing segment, which includes oil trading, the company said on Wednesday in its half-year production report. The trading giant didn't specify how much energy trading contributed to the profit, but it's expected to do so in the detailed half-year earnings due out next week. The trader booked adjusted EBIT of $2.9 billion in the marketing segment for the full year 2025. Apart from trading houses, the integrated oil and gas majors with strong trading divisions have also benefited from the turmoil in energy markets since the start of the war in Iran. Shell, for example, expects to have booked significantly higher oil and LNG trading results in the second quarter of the year as the Iran war drove extreme volatility in energy commodity markets.