CNBC’s Jim Cramer said Friday he thinks the price of oil will fall further because of demand and supply shocks from the dual crises of the coronavirus pandemic and global producer infighting.
Cramer cited oil prices as something high-frequency, computerized stock market traders are watching.
“I think oil takes out $20,” Cramer said on “Squawk on the Street.” With U.S. oil trading around $21.50 per barrel early Friday, prices would have to fall more than 7% to go below $20. It was down more than 4% late Friday morning.
