Renowned commodities trader Pierre Andurand (Pierre Andurand), known as the “oil trading god,” achieved a 31.1% growth in his fund in the first quarter of this year, mainly thanks to a successful bet on the scale of the oil supply shock caused by the Middle East conflict, which allowed him to turn the situation around after significant losses last year.

Ole Hansen, head of commodity strategy at Saxo Bank, noted in the latest client report: “If the Strait of Hormuz is not reopened soon, a rise in oil prices to a level that destroys demand cannot be ruled out.”

According to an informed source, the Andurand Commodities Discretionary Enhanced Fund managed by Andurand fell 4% in January, rose 4.6% in February, and surged 30.6% in March. #Иранский crisis in focus#

Strong results in March coincided roughly with a 60% increase in the global Brent benchmark. According to a Reuters analyst survey, the market now expects the average Brent price in 2026 to reach $82.85 per barrel — 30% higher than the pre-war forecast.

For the fund manager, known for bold directional trades, this result signifies a significant turnaround. In 2025, his fund suffered a loss of about 40% due to unfulfilled bullish forecasts on oil prices. Andurand gained fame for accurately predicting the sharp rise in oil prices in 2008 and the market crash in 2020. In 2024, he closed long positions in oil, then re-entered the market to capitalize on the historic opportunity to profit from supply disruptions.