Commodity traders are keeping a close eye on the energy space. The price of crude has jumped over $20 a barrel since this winter, driven by higher by stronger equity markets and hopes the economy may begin to pull out of recession soon.

But nat gas  has lagged – although it typically trades in tandem with oil, this year it’s been left behind – far behind.

However, there could been green shoots sprouting for nat gas bulls. Chesapeake CEO Aubrey McClendon tells Fast Money, he expects a dramatic reversal in natural gas prices sometime this fall or winter.

How high will gas prices go? According to McClendon, “they are far too low at $3.50 per thousand cubic feet. My guess is the rebound will overshoot on the high side, just as it has overshot on the low side.”

Does that mean  nat gas stocks ready to stage a major rebound?

Fast Money trader Pete Najarian thinks they are. "When I look across the nat gas space, it seems to me all the bearish news about nat gas trading at new lows is now priced into nat gas stocks," he says on CNBC's Closing Bell.

As a result Najarian is growing bullish.

"Look at integrated energy names such as BP and ConocoPhillips , " he counsels. "They’ve been lagging gains in Chevron and I think it’s because of their big exposure to nat gas. Now, maybe they start to catch up."

Najarian also suggests betting on a move higher with nat gas producers.  "Apache , Devon and XTO , all get the job done."

"Or even look at Baker Hughes for exploration."

What's the bottom line? If nat gas follows oil higher, every one of these names could be in play.

______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to .

Trader disclosure: On May 6th, 2009, 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 (WFC), (GS), (SDS), (AGU), (PCLN), (GE); Seymour Owns (AAPL), (BAC), (F), (FXI), (RIG), (TM), (TSO); Finerman's Firm Owns (BAC) Preferred Shares And Is Short (BAC) Stock; Finerman's Firm Owns (CSCO); Finerman's Firm Owns (MSFT) And (MSFT) Put Spreads; Finerman's Firm Owns (PM); Finerman's Firm Owns (PBR); Finerman's Firm And Finerman Own (RIG); Finerman's Firm And Finerman Own (WFC) Preferred Shares; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Najarian Owns (BX) Call Spread; Najarian Owns (DFS) Calls; Najarian Owns (EWZ) Call Spread; Najarian Owns (FIG); Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MCD) And Is Short (MCD) Calls; Najarian Owns (NVDA) And Is Short (NVDA) Calls; Najarian Owns (TSO) Call Spread; Najarian Owns (XLI) Put Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (XLF) Call Spread; Najarian Owns (BYD) Calls

GE Is The Parent Company Of CNBC
NBC Universal Is The Parent Company Of CNBC
Charles Schwab Is A Sponsor Of "Fast Money"

CNBC.com with wires