Oil is ‘hanging by a thread’ and the bottoming process could be in jeopardy if inventories come in too high this week, said TheStreet’s Jim Cramer. He added that everybody who ‘loved it at $50 now hates it at $40 a barrel’. Furthermore, Cramer said the dividend cut by Williams Companies was ‘not a surprise because they did telegraph it’. The company posted adjusted earnings of 19 cents per share, below analysts’ estimates of 22 cents per share. Williams also reduced its quarterly dividend to 20 cents per share for the third quarter, down from 64 cents per share previously.
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