Glencore reports record trading profits, despite oil volumes shrinking 24%

Mining and commodity giant Glencore’s traded oil volumes in 2022 fell 24% year on year, but the company managed to make record profits by taking advantage of global market volatility stemming from Russia’s invasion of Ukraine. The Swiss company, reporting full-year earnings Feb. 15, said its volumes of traded crude fell 24% from 2021 levels to 535 million barrels, or…