Druckenmiller, Soros Family Offices Bet on Energy as War Erupted

Investment firms for the world’s ultra-rich broadened their allocations to petroleum, gas and renewable energy companies in the first quarter as the conflict in Iran sent oil prices surging.

Stanley Druckenmiller’s Duquesne Family Office upped its exposure to two Latin American energy businesses, amassing a more than $127 million stake in Argentina oil and gas producer YPF SA and taking a new position in Mexico’s Vista Energy SAB. Both firms’ American depositary receipts trade on the New York Stock Exchange.