Glencore booked $2.66 billion ​in first-half adjusted earnings before interest and taxes (EBIT) from trading on Wednesday, up from just $40 million a year earlier. Glencore joins the trading desks of European oil majors BP, Shell, TotalEnergies and rival trading house Trafigura in reaping billions in profits ​this year. "The Oil and Gas department was the primary contributor, which benefited from significant dislocations across LNG, oil and shipping markets," ‌Glencore CEO Gary Nagle said. Its first-half results ​put it on track to rebound ​from three straight years ​of lower earnings from energy marketing. Looking ahead to the second half, ​Glencore said that significant ‌inventory drawdowns had left oil markets increasingly sensitive to ​disruptions.