Crude prices may have hit new highs for the year Wednesday, but oil expert John Kilduff doesn't expect the rally to continue.
"There's been a spectacular run, no question about it, but I think we're at a point here where it's going to be hard to continue. A lot of headwinds," the founding partner of Again Capital said in an interview with CNBC's "Power Lunch" on Wednesday.
Kilduff, who has been bearish on oil, admitted he was "obviously wrong" in not anticipating the ongoing rally. He has been calling for crude's run to end for the past few months.
On Wednesday, U.S. oil futures settled up 1.7 percent, or 87 cents, to $51.23 a barrel. They hit $51.34, the highest level since July, earlier in the session. Global benchmark Brent crude futures rose 2.1 percent, or $1.07, to $52.50 a barrel, after striking a high going back to Oct. 12.