The tough times for crude continue, with the commodity losing another nearly 3 percent in the past week and down about 50 percent year over year. Yet one prominent energy trader thinks we're finally about to see the bottom for oil.
Robert Raymond, founder of hedge fund RR Advisors, correctly called the collapse in natural gas five years ago, when the sub-$3 commodity was trading above $5. Now, he's calling crude's next move.
"I think we're going into what we would characterize as the final capitulation phase of the down cycle of the oil market here," Raymond said in a rare interview this week on CNBC's "Fast Money."
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