Jim Cramer: 'Everything Is Pretty Rosy' When Oil Prices Rise

Oil prices rose on Tuesday which in term may be helping the equity market move higher as well. The price of oil gained around 1.5 percent due to supply disruptions in global supplies, particularly in Canada where a massive wild-fire near Alberta's oil sands are showing no signs of slowing down. Commenting during Tuesday's edition of CNBC's "Squawk Box," Jim Cramer suggested that "everything is pretty rosy" when oil prices rises. He continued that drug stocks and consumer stocks do well in a bullish oil environment. "A lot of the companies that do quite poorly with higher oil, they act really amazing," Cramer said. Cramer continued that the overall stock has been "very thin" as of late and this was confirmed by a report by Credit Suisse that "no one is really trading." He added that when traders do trade - they "trade with oil." "When oil goes up, we can go and buy Freeport-McMoRan Inc FCX, but we can also go out and buy any company that is a consumer packaged goods becuase those go up with the S&P." Finally, Cramer tactically acknowledged that the market is in a state where "it doesn't really matter what we do"