Jim Cramer on Understanding Oil: Use WTI Over Brent

Katherine Ross

Let's talk oil. 

On Monday, oil prices plunged to below zero for the first time ever as storage tanks were nearly full amid a collapse in demand due to the coronavirus pandemic.

Oil contracts expiring Tuesday remained in negative territory while futures for the June contract were trading around $16 a barrel.

“We will never let the great U.S. Oil & Gas Industry down,” Trump said in a tweet on Tuesday. “I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future!”

So, let's back up a second for the investors who don't specialize in commodities: What exactly is the difference between Brent and WTI?

Jim Cramer weighs in.

Watch the full video above for more.

Want to know what Jim Cramer and his team at Action Alerts PLUS are thinking about the markets and the stocks they're watching? Sign up on Action Alerts PLUS for more.

Cramer and the team are weighing in on what members need to know about the coronavirus pandemic's impact on the market. Here's how you can recap his entire April show.

Watch More of the Latest Videos on TheStreet and Jim Cramer

LIVE WITH JIM CRAMER - WATCH THE REPLAY
Enter your email to register or login. Registration information may be shared with advertising partners in accordance with our Privacy Policy.
Comments

Ask Cramer

FEATURED
COMMUNITY