Glencore Signals End of Turnaround as Profit Soars 48%

The video discusses Glencore's dual business model of mining and trading, highlighting its strong financial performance and successful debt reduction. It explores the global commodities market, noting robust demand and positive supply surprises, particularly in energy. The video also examines shareholder returns and the current market cycle, emphasizing a shift towards rewarding shareholders rather than reinvesting in mining operations.

In what ways does the supply story differ for energy compared to industrial metals?

What trends are observed regarding shareholder rewards in the current cycle of rising commodity prices?