Cramer says the oil market is signaling the Iran war won't spiral — and that's bullish for stocks

Monday - Friday, 6:00 - 7:00 PM ET Mad Money Cramer says the oil market is signaling the Iran war won't spiral — and that's bullish for stocks Published Wed, Mar 4 2026 6:47 PM EST Paulina Likos @paulina_likos WATCH LIVE Key Points CNBC's Jim Cramer said the oil market may be signaling the war with Iran won't escalate into a prolonged disruption to crude supplies. "The oil market always seems to know everything," the "Mad Money" host said. watch now VIDEO 8:06 08:06 Oil stocks could be wrong, but right now they're saying the Strait of Hormuz will reopen: Cramer Mad Money with Jim Cramer CNBC's Jim Cramer said the oil market may be signaling the war with Iran won't cause prolonged disruptions to global crude supply — a dynamic that could help lift stocks beyond Wednesday's rally. "The oil market always seems to know everything," Cramer said on "Mad Money," pointing to a decline in major energy stocks as oil futures had by far their most tame session of the week. Shares of Exxon Mobil closed down 1.3% Wednesday, while ConocoPhillips fell 2.4% and Halliburton dropping nearly 2%. Meanwhile, Brent crude , the global oil benchmark, settled flat on the day after jumping 6.7% and 4.7% on Monday and Tuesday, respectively. West Texas Intermediate crude , the U.S. standard, settled up a mere 0.1%. That came after gains of 6.3% on Monday and 4.7% on Tuesday. "You don't get Exxon, Conoco and Halliburton all down one or two percent if the Strait of Hormuz will really be closed for a long period of time," Cramer said, referencing the critical shipping lane that handles a meaningful share of the world's oil exports. Cramer wondered whether oil market is behaving similarly to the start of Operation Desert Storm in the Gulf War in January 1991. At the time, many expected a lengthy conflict and sustained higher oil prices. Instead, crude fell shortly after the fighting began as the U.S. quickly overtook Iraqi forces. If the Iran war doesn't create a sustained spike in oil prices, that...