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Oil Sector Stocks With Upside Potential
CNBC.com | March 06, 2012 | 01:35 PM EST

As crude oil prices declined Tuesday, the “ Fast Money ” traders staked their positions within different sectors of the industry.

Brent crude traded at $122.27 midday, down $1.53. WTI slipped 1.7 percent to $104.87.

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NEW SLIDESHOW: Top Apple-Related Stocks for 2012

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Simon Baker of Baker Street Asset Management liked the offshore oil drilling companies, particularly Diamond Offshore .

Patty Edwards of Trutina Financial liked the suppliers and pipeline plays: Schlumberger and Kinder Morgan, which also paid a dividend.

Jon Najarian of OptionMonster.com picked Holly Energy Partners.

“I think they might do pretty well going forward,” he said.

OptionMonster.com cofounder Pete Najarian doubled down on ConocoPhillips, which climbed 7 percent in the past month and has a 3½ percent dividend yield.

“I think it continues to outperform,” he said.

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