Jim Cramer says these 3 stock market themes could work if the oil shock eases

Monday - Friday, 6:00 - 7:00 PM ETIn this articleCNBC's Jim Cramer is warning against trying to ignore the Iran war because rising oil prices could eventually overwhelm even the best stock ideas."The war cannot be ring-fenced, no matter what we do. I don't want to sugarcoat it. We can't avoid this issue," Cramer said on "Mad Money" on Wednesday evening. "People are trying to dismiss the impact of the war, or they're trying to see through it, see past it until it's over."That may be why the market was not down more on Wednesday. The S&P 500 closed slightly lower in a session marked by a 5% jump in U.S. oil prices. That's a far cry from Monday's spike up to $119 and change per barrel. But current West Texas intermediate crude levels above $88 per barrel are still up more than 50% year to date.Investors appear to be counting on the release of global strategic petroleum reserves to cushion the stock market until the conflict ends.

President Donald Trump said Wednesday evening he would tap the U.S.

Strategic Petroleum Reserve to help ease energy prices. Earlier in the day, the International Energy Agency agreed to release 400 million barrels of oil to address global supply disruption.Those moves, while positive, are just Band-Aids."Without some reason to believe that the war's ending, there's nothing that can stop oil from eventually soaring to $120 and beyond," Cramer said. "That will bust any ring fence. All bullish bets would be off." A spike back to those levels or worse could trigger widespread selling across stocks, he added, saying "The selling in the S&P futures would be so outrageous that even the stocks of Exxon and Chevron would get crushed too, simply because they're part of the index."Still, Cramer outlined several themes investors could consider if oil stabilizes and tensions ease around the Strait of Hormuz, a critical waterway where much of the world's oil supply passes through.While geopolitical uncertainty is still in the cards, Cramer concluded those themes are "the only ones I know that can be bought after a run in oil that devastates the stock market."Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter.Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up!

Mad Money Twitter - Jim Cramer Twitter - Facebook - InstagramQuestions, comments, suggestions for the "Mad Money" website? madcap@cnbc.comGot a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2026 Versant Media, LLC.

All Rights Reserved. A Versant Media Company. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Data also provided by