Chinese officials will be in Washington on Wednesday to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Oil is a beast. It is not the fact that it has been declining that is so frightening to Jim Cramer, it is the velocity and speed at which it has been doing so.
The crude animal finally took a breather on Wednesday and stopped its decline. As a result, the market responded in a rally. Whew!
It is just a matter of time until the Federal Reserve raises interest rates. Yet Fed Chief Janet Yellen chose to be patient about raising rates, a prudent move at a time where employment numbers and retail sales are doing better.
"She doesn't have to state the obvious, that the velocity of the decline in oil is wiping out whole economies, which could cause severe deflation and the unraveling of a lot of the good work the Fed has done," the "Mad Money" host said.
So, while oil did go for a run with the bulls on Wednesday, Cramer still wants oil to decline. There are just too many positive implications for the U.S. consumer for cheaper oil.
The key is that while Cramer wants oil to sell off, it has to happen gradually. He spelled out the reasons why it is so important for oil to decline slowly.
"At some point, Putin could decide to commit financial suicide in the name of Russian hegemony and go into Ukraine guns blazing. And if that happens, Europe could go into a depression, and we're all back in the soup," Cramer said.
Additionally, the Mexican government is counting on Pemex to help grow its economy. However the enormous liability of $100 billion that Pemex has is daunting. A break in the decline in oil could give the Mexico some breathing room.
Essentially a slow decline in oil will prevent a run on the currencies of Brazil and Mexico, which is good for emerging market investors.
The third positive to slower oil is the possible collapse of the corporate bond ETF HYG. This index has a ton of oil-related debt.
"This isn't a canary in a coal mine signaling that something's wrong, it's a gosh-darned mine collapse that's occurring, and a lift in oil may be the trick to shoring things up," Cramer explained
Lastly there are the U.S. oil producers. This doesn't require a ton of explaining—they're not doing well. When oil plummets, potential investors don't even attempt to bottom fish because they are afraid of bankruptcy.
Cramer thinks that if oil can just take a breather from going down so quickly, the beaten down oil companies can take time to hedge their risk in the futures market, or even sell off property to pay bank debt.
Read more from Mad Money with Jim Cramer
Cramer Remix: It's the right time to buy this
Cramer: A boom is around the corner, thanks to Goldilocks
Cramer on why US bonds could help the world
Finally crude and the market had some breathing room on Wednesday, thanks to the Fed. However, Cramer warned to be wary of a decline ahead.
"The bulls rejoiced while the bears got caught short in a rip-your ursine face off rally that will last as long as oil stabilizes or even goes higher, before resuming its decline again," he said.
Hopefully this time, it's a slow decline.