Jim Cramer Ties CPI Relief to $40 Oil, but Brent Trades Over $92

CNBC host Jim Cramer said $40 oil plus retailer price cuts would send US inflation sharply lower. That requires Brent crude to lose roughly 56% from Tuesday’s level. October’s Consumer Price Index (CPI) rose 0.4%, topping the 0.3% forecast, after Brent gained more than 15% that month. That keeps a Federal Reserve hike in play, a risk for Bitcoin (BTC) and other risk assets. Can Cheaper Oil Really Cool Inflation? Cramer argued on Tuesday’s Mad Money that oil feeds into food, recreation, and motor vehicle insurance prices. He cited a chart of Valero, a US oil refiner, as pointing to $40 crude. However, the scenario also assumes Walmart and Costco force price cuts onto suppliers.

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