Jim Cramer's Stop Trading: Bad News if WTI Crude Oil Breaks Below $90

NEW YORK (TheStreet) -- Investors should pay close attention to the price of WTI crude oil, TheStreet's Jim Cramer reasoned on CNBC's "Stop Trading" segment. 

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Cramer, the co-manager of the Action Alerts PLUS portfolio, suggested that if WTI crude oil breaks below $90 per barrel, a lot of the oil and gas drilling companies -- which have been "rolling over" for weeks -- will likely lower 2015 budgets and pull back on spending. 

The states with the lowest unemployment rates are the ones that have exposure to the oil and gas industry. 

It would be bad for the overall economy, if the oil and gas industry pulled back on spending right now, he concluded.

Transocean  (RIG)  and BP plc (BP) were lower during the morning session as Schlumberger (SLB) gained. 

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-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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