I’m bearish on oil, explains Deutsche analyst Paul Sankey. The winter forecast doesn’t seem terribly fierce demand is falling and supplies are certainly adequate. Also Marathon (MRO) has a new refinery coming on line. If you're looking for a trade, consider long ConocoPhillips (COP) but as a restructuring story and outright short Valero (VLO) because refiner margins are shrinking, he says.

I’m bearish on oil, explains Deutsche analyst Paul Sankey. The winter forecast doesn’t seem terribly fierce demand is falling and supplies are certainly adequate. Also Marathon (MRO) has a new refinery coming on line. If you're looking for a trade, consider long ConocoPhillips (COP) but as a restructuring story and outright short Valero (VLO) because refiner margins are shrinking, he says.

I’m bearish on oil, explains Deutsche analyst Paul Sankey. The winter forecast doesn’t seem terribly fierce demand is falling and supplies are certainly adequate. Also Marathon (MRO) has a new refinery coming on line. If you're looking for a trade, consider long ConocoPhillips (COP) but as a restructuring story and outright short Valero (VLO) because refiner margins are shrinking, he says.

Najarian said he continues to like BP (BP) for its attractive dividend and the $3 billion it has saved from cost-cutting. "The numbers continue to work for BP," he said.

I believe oil prices will sustain, said Joe Terranova and I’ve got my eye on Hess (HES). It’s highly correlated to the price of oil so I’m thinking Q3 will be strong. I’d be a buyer of Hess as a bet that oil moves higher from here.

I’d play the space with the oil services names, such as RIG (RIG), said Karen Finerman.

I do think in the refining space you can own a name like Sunoco (SUN) or possibly Holly Corp. (HOC), Terranova added.

I do think in the refining space you can own a name like Sunoco (SUN) or possibly Holly Corp. (HOC), Terranova added.