Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
Jim Cramer is officially calling the recent run in crude the "great Goldman Sachs oil rally."
On Friday, Goldman raised the low end of its predictive range for oil to $25 from $20, which signaled to Cramer that the credit crunch could finally be over.
"When the biggest — and most correct — bear says that perhaps the bottom has been put in, that is good enough to spark a rally that makes it so the largest real worry out there gets taken off the table," the "Mad Money" host said.
Goldman's call made sense to Cramer because of the combination of oil companies accessing equity markets for cash, rising demand for gasoline and cancellation of oil projects were great signals.
Bank of America, JPMorgan and Wells Fargo became the target of short-sellers when they revealed that they had considerable exposure to the oil page. As a result, financial and oil stock weakness were enough to take down stocks last month.
Read more from Mad Money with Jim Cramer
And no matter how much some companies benefit from lower oil prices, the idea of a big increase in bad loans from these three banks and the Fed not raising rates because of a prospective oil related credit crunch was too much for the market to overcome.
"That is why today's rally has more staying power, as opposed to the phony intra-day rally we had yesterday based on a false carry over from Europe," Cramer said.
Now that Goldman took those worries off the table and stocks can rally again, Cramer was ready to take action with oils. His charitable trust has being buying Schlumberger and Occidental. He liked Schlumberger because it was already doing well despite the price of oil, and Occidental because the dividend is safer in this environment,
"Those are only for real risk-takers," Cramer said.
Ultimately, Goldman lifted a great weight from Cramer's shoulders and sparked a real rally. It was a recipe for higher stock prices, until oil gets so expensive that numbers need to be cut for those companies using too much of it.