Jim Cramer says oil at $70 will matter more than markets think
As seen on the 24/7 Wall St. homepage on June 26, 2026.
Cramer signals crude's retreat to $70 will have staying power despite current market dismissal, challenging consensus that the move was impossible.
I know oil falling back to $70 means nothing now, but it will... always does... Everyone told us it couldn't fall to this level quickly. So wrong.
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Crude oil's retreat to $70 has been met with a collective shrug from markets, but Jim Cramer pushed back on that dismissal on June 26, arguing the move carries more weight than traders are currently giving it credit for. His point is historical: oil prices at this level have consistently been a meaningful signal, even when the initial reaction is indifference.
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Cramer also took direct aim at the prevailing consensus, noting that many market watchers insisted such a rapid decline to $70 was not possible. That the move happened anyway, he implied, should give pause to anyone still writing it off as noise. Whether the market comes around to his view remains to be seen, but the post drew 32 replies and 77 likes, suggesting the take landed with at least some interest from followers.
Sources
Mentioned: CL