Guess what? The gas crack is starting to shrink! As you probably know we’re talking about the difference between the price refiners pay for crude oil versus the price at which gasoline is sold. Does this mean you can anticipate a little less pain at the pump – and are refiners still in play?

Eric Bolling explains to the panel that the crack spread is falling apart because capacity is coming back and we’re halfway through the driving season. Also he says imports of gasoline made up the slack that America was experiencing during the refinery outages. Consequently, barrels are plentiful and prices are starting to fall.

He says the trade is to roll out of the refiners and put that money into integrated oil companies.

Pete Najarian says the best name in integrated oil is ConocoPhillips (COP); with Chevron (CVX) a close second and Exxon (XOM) third.

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Trader disclosure: On July 16th 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Macke Owns (ATVI), Bolling Owns (DIS), (ICE), (MPEL), (NMX), (T), (XOM), Corn; Bolling Is Short (FXI) And Owns (FXI) Puts; Finerman's Firm And Finerman Own (C ) (FTWR); Finerman's Firm Owns (KFT); (MO); (GLNG); S&P Puts; Russell 2000 Puts; (TGT) Calls, Finerman's Firm Is Short (IYR)