Cramer's Late-to-Rally Oil Play

Cramer covered a number of stocks and sectors during Wednesday’s Stop Trading!, making calls on oil tankers, dry-bulk shippers, commodities, the utilities and more.

Petroleo Brasileiro might be the only oil stock that hasn’t moved higher, Cramer said, despite a series of discoveries for the company. On an asset basis, he called the stock “really cheap.”

The increase in oil prices is helping the tanker group, which includes Frontline . Cramer pointed to a trend among money managers to own oil as an asset class, just as they do with gold, stocks and bonds. One way to do that is by purchasing oil and holding it offshore in tankers.

The cut in iron prices could boost business for dry-bulk shippers, Cramer said, particularly DryShips . Diana Shipping also operates in this industry.

Lastly, Cramer attributed any inflation in commodities to speculation. Given the low margin rates in commodities trading, investors drive up prices in an attempt for more profits. Also, Cramer shrugged off concerns about rising mortgage rates. If anything, they draw potential homebuyers, in fear of missing the bottom, out from the sidelines.

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