Andrew Hall says oil market has materially worsened

Hall of Astenbeck Capital had a multi-year run of amazing returns on oil trading and even managed to sue Citi for million when they tried not to pay his bonus.

Lately he's struggled. He was bullish last year but finally gave up and earlier in 2017 he warned that $55 was a ceiling if crude stayed in contango.

Back in June, his comments suggested he was still bullish but the comments that hit today suggest he's lost faith.