Energy trader Andurand lost 52% in oil bets in the first two weeks of this month.

Energy trader Pierre Andurand's largest hedge fund plummeted by about 52% in the first half of April, wiping out all profits made in the early stages of the Iran war when betting on rising oil prices. An unnamed source familiar with its performance revealed that as of April 17, the fund has experienced a significant decline this month, and has accumulated a year-to-date drop of close to 37%. Andurand Commodities Discretionary Enhanced Fund achieved an impressive return of 31% in March when the war-induced fluctuations in commodities and inflation expectations caught many hedge funds off-guard.