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Oil is taking out $70 a barrel and that means that gas is going to $3.25 to $3.60, Jim Cramer said on his "RealMoney" radio show Monday.
He said this is true because demand is not going anywhere, and it is getting harder and harder to find oil.
"We'll be lucky if we don't see oil go to $80," he said. For example, Cramer said that Saudi Arabia has twice as many rigs as it did five years ago but that it's not producing as much oil. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
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