3 Reasons Cramer's Bullish on Oil
Although stocks closed near session lows Monday with all 30 Dow stocks posting losses, Cramer highlighted three important deals in the oil and natural gas complex.
To start, Kinder Morgan struck a $21 billion deal to buy the rival natural gas pipeline operator El Paso . Following news of the deal, EP surged to a 9-year high.
"I think Kinder Morgan Energy Partners is still a buy off its acquisition of El Paso because there will be accelerated distribution growth over time," the "Mad Money" host said.
Meanwhile, Statoil said it will acquire the energy company Brigham Exploration for $4.4 billion. To Cramer, Continental Resources and EOG Resources make sense as pin-action plays off Statoil's Brigham Exploration bid.
Finally, pipeline operator Energy Transfer Partners is selling off its propane assets for $2.9 billion. That's good news, Cramer said, because the propane business has long been struggling. He thinks ETP is more valuable without this business segment.