v3.26.3
Fair Value Measurements - Assets and Liabilities Accounted for at Fair Value on a Recurring Basis (Details) - Recurring - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Assets:    
Inventories carried at market $ 7,586 $ 6,222
Cash equivalents 146 280
Marketable securities 45 32
Segregated investments and restricted cash equivalents 2,351 1,771
Total Assets 11,646 9,252
Liabilities:    
Inventory-related payables 851 730
Total Liabilities 2,062 1,487
Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 1,301 822
Liabilities:    
Unrealized losses on derivative contracts 1,103 613
Foreign currency contracts    
Assets:    
Unrealized gains on derivative contracts 217 108
Liabilities:    
Unrealized losses on derivative contracts 97 144
Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts 0 17
Liabilities:    
Unrealized losses on derivative contracts 11  
Equity-linked debt contracts    
Assets:    
Unrealized gains on derivative contracts 0  
Level 1    
Assets:    
Inventories carried at market 0 0
Cash equivalents 146 280
Marketable securities 45 32
Segregated investments and restricted cash equivalents 2,351 1,771
Total Assets 2,542 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
Liabilities:    
Unrealized losses on derivative contracts 0  
Level 1 | Equity-linked debt contracts    
Assets:    
Unrealized gains on derivative contracts 0  
Level 2    
Assets:    
Inventories carried at market 4,150 3,549
Cash equivalents 0 0
Marketable securities 0 0
Segregated investments and restricted cash equivalents 0 0
Total Assets 5,166 3,984
Liabilities:    
Inventory-related payables 843 714
Total Liabilities 1,535 1,158
Level 2 | Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 799 310
Liabilities:    
Unrealized losses on derivative contracts 584 300
Level 2 | Foreign currency contracts    
Assets:    
Unrealized gains on derivative contracts 217 108
Liabilities:    
Unrealized losses on derivative contracts 97 144
Level 2 | Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts 0 17
Liabilities:    
Unrealized losses on derivative contracts 11  
Level 2 | Equity-linked debt contracts    
Assets:    
Unrealized gains on derivative contracts 0  
Level 3    
Assets:    
Inventories carried at market 3,436 2,673
Cash equivalents 0 0
Marketable securities 0 0
Segregated investments and restricted cash equivalents 0 0
Total Assets 3,938 3,185
Liabilities:    
Inventory-related payables 8 16
Total Liabilities 527 329
Level 3 | Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 502 512
Liabilities:    
Unrealized losses on derivative contracts 519 313
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
Liabilities:    
Unrealized losses on derivative contracts 0  
Level 3 | Equity-linked debt contracts    
Assets:    
Unrealized gains on derivative contracts $ 0