v3.26.1
Fair Value Measurements - Assets and Liabilities Accounted for at Fair Value on a Recurring Basis (Details) - Recurring - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Inventories carried at market $ 7,570 $ 6,222
Cash equivalents 65 280
Marketable securities 33 32
Segregated investments and restricted cash equivalents 1,583 1,771
Total Assets 10,451 9,252
Liabilities:    
Inventory-related payables 1,497 730
Total Liabilities 2,865 1,487
Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 873 822
Liabilities:    
Unrealized losses on derivative contracts 1,202 613
Foreign currency contracts    
Assets:    
Unrealized gains on derivative contracts 314 108
Liabilities:    
Unrealized losses on derivative contracts 166 144
Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts 13 17
Level 1    
Assets:    
Inventories carried at market 0 0
Cash equivalents 65 280
Marketable securities 33 32
Segregated investments and restricted cash equivalents 1,583 1,771
Total Assets 1,681 2,083
Liabilities:    
Inventory-related payables 0 0
Total Liabilities 0 0
Level 1 | Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 0 0
Liabilities:    
Unrealized losses on derivative contracts 0 0
Level 1 | Foreign currency contracts    
Assets:    
Unrealized gains on derivative contracts 0 0
Liabilities:    
Unrealized losses on derivative contracts 0 0
Level 1 | Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts 0 0
Level 2    
Assets:    
Inventories carried at market 4,328 3,549
Cash equivalents 0 0
Marketable securities 0 0
Segregated investments and restricted cash equivalents 0 0
Total Assets 4,988 3,984
Liabilities:    
Inventory-related payables 1,467 714
Total Liabilities 2,201 1,158
Level 2 | Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 333 310
Liabilities:    
Unrealized losses on derivative contracts 568 300
Level 2 | Foreign currency contracts    
Assets:    
Unrealized gains on derivative contracts 314 108
Liabilities:    
Unrealized losses on derivative contracts 166 144
Level 2 | Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts 13 17
Level 3    
Assets:    
Inventories carried at market 3,242 2,673
Cash equivalents 0 0
Marketable securities 0 0
Segregated investments and restricted cash equivalents 0 0
Total Assets 3,782 3,185
Liabilities:    
Inventory-related payables 30 16
Total Liabilities 664 329
Level 3 | Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 540 512
Liabilities:    
Unrealized losses on derivative contracts 634 313
Level 3 | Foreign currency contracts    
Assets:    
Unrealized gains on derivative contracts 0 0
Liabilities:    
Unrealized losses on derivative contracts 0 0
Level 3 | Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts $ 0 $ 0