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Glencore Energy, Coal Segment Boosts H1 Revenue Amid Middle East Tensions

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Glencore's energy and steelmaking coal business largely contributed to the increase in the company's H1 revenue, as the unit capitalized on favorable oil and gas market conditions during the Middle East conflict and as fuel supply tightness raised demand for thermal coal, it said on Wednesday.

The energy and steelmaking coal segment generated $99.98 billion in revenue in the six months ended June 30, up from $68.17 billion generated in the same period of 2025, Glencore H1 results showed.

Oil and gas marketing activities successfully captured the strong energy market, while managing elevated commodity prices and operational risks, according to the company.

Glencore sold 452 million barrels of crude oil in H1, up 13% from 401 mmbbls in the same period of 2025. Oil product sales surged 42% year over year to 486 mmbbls from 343 mmbbls.

"Thermal coal markets also benefited, as lower liquefied natural gas availability supported increased demand for other secure and reliable energy sources," Glencore said.

Coal sales grew 18% to 29.4 million tons from the previous year's 25.0 mmt, as tighter LNG supplies and higher gas prices lifted coal demand in Europe, Japan and Korea.

Meanwhile, the metals and minerals business also contributed to the company's strong H1 revenue, as it generated $76.77 billion during the period, an increase from the prior year's $50.53 billion.

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