CNBC’s Mad Money host Jim Cramer has reached semi-divine stature! His ability to use his bird brain to effectuate the inverse of what he prophesies will happen to the market continues to prove itself legendary and unmatched!
Cramer crafted a perfectly timed column March 8 speculating that President Donald Trump’s successful military actions in Iran “may send oil to $150 to $200 a barrel. Here’s my advice for stock investors.”
Point of order: Whenever Cramer says “here’s my advice,” investors should be privy to the fact that this typically means to do the exact opposite. Cramer was adamant that “[t]he U.S.-Iran war-fueled rally is not ‘phony’ based on a giant short squeeze, although there is a lot of squeezing going on.” In his fatalistic view, “the producers can’t flick a switch, and it’s only been a week of war. That’s why talk of $150 or even $200 barrel a day oil will be in the news over the next few weeks if this Middle East conflict continues.”
So, what ended up happening? After Brent (global) and West Texas Intermediate (U.S.) crude briefly spiked to around $120 a barrel March 9, both indexes later plummeted under $100 for one of the largest single day reversals in oil trading history following a meeting from G-7 countries to release 400 million barrels from reserves. On the extreme end, Brent crude dipped below $90 and WTI crude fell to $85 before settling at $98.96 and $94.77 a barrel respectively. As of 1:40 p.m, both indexes are trading at or below $90 and $80 respectively March 10 so far.
In layman’s terms: Cramer’s prediction — ONCE AGAIN — collapsed harder than the overall media’s credibility with American voters. As Cramer concluded, “Steel yourself; the pessimists will have gravitas.” Yeah, for a whole 11 hours. Derp.
Today’s chart of oil prices will be referenced for decades to come.
— The Kobeissi Letter (@KobeissiLetter) March 9, 2026
You just witnessed history. pic.twitter.com/R6VQTG8EDZ
Oh, but it gets better. At around 3:30 a.m. on March 10 — after his forecasts exploded in his face — Cramer still tried to eke out some sort of consolation prize that would detract from the #InverseCramer meme that he has come to personify in market news. “The oil futures themselves are an imperfect lot. A $34 swing on a small commodity might be okay but on the most important one in the world, this market still doesn't have all the players it needs,” Cramer snorted in an X post.
The oil futures themselves are an imperfect lot. A $34 swing on a small commodity might be okay but on the most important one in the world, this market still doesn't have all the players it needs.
— Jim Cramer (@jimcramer) March 10, 2026
Translated: This could be Inverse Cramer-speak for Go Bullish! on oil, but we at MRC Business are still in the process of deciphering just exactly how he perceives the relationship between language and the real world so it's anybody's guess at this point.
🚨 JUST IN: The "experts" are SHOCKED after the price of oil PLUMMETS from over $100 per barrel to below $80, with stocks now RAPIDLY recovering
— Eric Daugherty (@EricLDaugh) March 10, 2026
President Trump said: "It's temporary"
"This is just an INCREDIBLE swing!" 🔥
TRUMP HAS A PLAN! pic.twitter.com/vrqn2qR9I4
In any case, thanks for the comic relief, Jim!
