<p><strong>Jim Cramer</strong> said on Tuesday that President <strong>Donald Trump</strong>‘s comments no longer positively impact oil prices as uncertainty looms over the Strait of Hormuz amid tensions between Washington and Tehran.</p>



<h2>The Big Problem With Oil</h2>



<p>In a post on X, Cramer outlined the “big problem” with oil prices in recent times, saying that the prices go “down less when Trump says there is a hint of peace,” but rally when “there is a rumor of war.”</p>



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<p>He then shared that oil prices could “challenge” the $119 high if there was “no peace,” this time out. “All of this truce-carrot with no stick breeds higher and higher prices,” Cramer said.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div>
<blockquote><p lang="en" dir="ltr">Here's the big problem with oil: these days it goes down less when Trump says there is a hint of peace and it goes up much more when there is a rumor of war. So if there is no peace this time oil could challenge its $119 high. All of this truce-carrot with no stick breeds higher…</p>— Jim Cramer (@jimcramer) May 19, 2026</blockquote>
</div></figure>



<h2>Oil Prices, Treasury Waiver</h2>



<p>U.S. Treasury Secretary <strong>Scott Bessent</strong> issued a 30-day general license for countries facing oil crunches to buy Russian seaborne oil in a move that would &#34;provide additional flexibility&#34; in the crude oil supply chain.</p>



<p>On the oil front, <strong>West Texas Intermediate</strong> (WTI) crude oil declined 0.82% to $107.8/barrel at press time, while <strong>Brent</strong> crude also declined 0.37% to $110.9/barrel. The <strong>United States Oil Fund</strong> (NYSE:USO) ETF, on the other hand, surged 2.46% to $152.96 at market close on Tuesday, but declined 0.63% to $152 during the after-hours session.</p>



<h2>Iran War Impact</h2>



<p>Recently, top analysts warned of the negative effects of the Iran war, with <strong>Mark Zandi</strong>, who is the chief economist at Moody’s Analytics, warning that surging interest rates signified rising inflation expectations. “Nothing spooks the Fed more than unmoored inflation expectations,” the analyst said.</p>



<p>Meanwhile, Trump had earlier shared that ensuring Iran does not become a nuclear power would take precedence over the current cost-of-living woes faced by ordinary Americans amid the war. Trump has faced significant criticism of his handling of the situation in Iran, with the latest approval ratings falling to record lows.</p>



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<p><em>Check out more of Benzinga's Future Of Mobility coverage by</em> following this link.</p>



<p><em>Photo courtesy: Shutterstock</em></p>

<p>Jim Cramer warns that oil prices could exceed $119 if tensions in the Strait of Hormuz persist, stating that Trump's comments no longer positively influence prices. He noted that oil prices tend to rise with rumors of war and fall less with hints of peace. Meanwhile, WTI crude oil declined to $107.8/barrel, while Brent crude fell to $110.9/barrel. Analysts express concerns over inflation due to the ongoing Iran war.</p>

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Jim Cramer Warns Oil Could Break $119 High If There Is 'No Peace,' Says Trump's Comments No Longer Impact Prices Amid Iran War