King said oil could soon hit $100 and even $200 over the next five years. : A hedge fund run by commodities trader Doug King posted a record return last year, thanks to soaring energy, food, power and freight prices. King’s $244 million Merchant Commodity Fund gained 74%, beating its previous best of 59% in 2014, according to an investor letter seen by Bloomberg. London-based King, 55, is among a cadre of hedge fund managers, including Pierre Andurand, who made huge profits from commodities last year amid a global economic recovery from the coronavirus pandemic and supply disruptions.