Cramer: WTI Could Drop To $40s In ‘Ferocious’ Bear Market

WTI Crude prices could drop into the $40s, with the U.S. oil benchmark in a ‘ferocious’ bear market, analyst and CNBC host Jim Cramer said on Thursday. WTI Crude prices slipped on Thursday by more than 20 percent from the four-year high hit just last month, entering bear market territory, as oil production in the United States continues to grow, Russia and Saudi Arabia put a lot more oil on the market, while the global economy and oil demand growth are starting to show signs of slowdown. At 11:47 a.m. CDT on Thursday, WTI Crude was…