Cramer's Stop Trading! Why Buy BP? (6/18/10)

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Includes: BP, CVX, MRO, XOM
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Friday June 18.

BP (NYSE:BP), Chevron (NYSE:CVX), Exxon (NYSE:XOM), Marathon (NYSE:MRO)

Cramer confesses he doesn't understand people who insist that BP (BP) should be bought on weakness when its oil rig is still spewing as much as 100,000 barrels of oil a day into the Gulf of Mexico without an end in sight. "I don't even want to buy Chevron (CVX)...why buy BP? What could the catalyst be? ...I'm worried about Exxon (XOM), but BP is an unanalyzeable security." An oil industry insider Cramer spoke to said if a hurricane comes along, "BP would be finished."

However, those who really want exposure to oil should check out the refiners, and Cramer thinks Marathon Oil (MRO) is the refiner with the best margins.

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