Oil and Gas

Cramer: Don’t like oil rising every day, and here’s why

Cramer: Why I don't like higher oil every day

While higher oil prices may lead to stock prices' also going up, CNBC's Jim Cramer said Wednesday he does not like how oil is rising "every day."

"I think the day-to-day algorithmic traders are looking at this setup and they're saying, 'Sell, sell, sell,' " Cramer said on CNBC's "Squawk on the Street."

Cramer made his remarks one day after U.S. crude prices settled above $60 per barrel for the first time since last December. WTI prices also rose to a new 2015 high of $62.08 in Wednesday trading.

"I know that we've had a lot of reports from oil companies, and they did shut in a lot of production. I know that demand is a little bit stronger worldwide, but in the end, inflation is something I don't like talking about," Cramer added. "I think that I could make a case about you talking about inflation."

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Oil giants Exxon Mobil and Chevron both recently reported quarterly results that beat Wall Street expectations.

U.S. oil futures traded higher in mid-morning trading. Click here to see where they are trading now.

Yves Herman | Reuters