Energy Traders Report Record Profits Amid Middle East Conflict

Global energy and commodity trading firms reported record earnings during the first half of 2026. The financial windfall followed joint airstrikes by the United States and Israel on Iranian nuclear and military facilities beginning February 28, which disrupted maritime traffic in the Persian Gulf and the Strait of Hormuz.

Glencore saw its energy trading division's adjusted earnings before interest and taxes increase 66-fold to $2.66 billion, while crude and fuel trading volumes rose approximately 24%. BP plc reported a second-quarter underlying replacement cost profit of $5.73 billion, marking its highest quarterly profit since 2022.

Industry leaders attributed these gains to massive price dislocations in crude oil, liquefied natural gas, and shipping markets. Market analysts warn that dwindling global oil inventories leave the energy sector vulnerable to additional supply shocks if the crisis in the Middle East persists.