Buy dip in oil, look at nat gas: Fisher

Buy dip in oil, look at nat gas: Mark Fisher

The price range for West Texas intermediate crude oil has edged higher, but is where investors should be looking, commodities trader Mark Fisher of MBF Clearing said Friday.

"Basically, now I think the range has changed," he said. "I think the range is now $95 to $125."

Fisher explained that over the past couple of years, WTI would be a "buy" around $80 per barrel and a "sell" near $110.

On CNBC's "Fast Money," Fisher discounted the idea that the United States being on track to become energy independent would drive prices much lower, noting that even with the increase in shale oil production, crude still trades around $105 to $110 per barrel.

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"But for me, I'm more interested right now in nat gas," he said, citing top picks such as Chesapeake, Southwestern and UPL as places to put money to work.

"Put it away and just go to sleep and wake up in four years and Rip Van Winkle, make yourself 100 percent of your money," he said.

Fisher said that the effects of warmer winter months in the United States on natural gas prices were short-term, citing increased investment in infrastructure.

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"My vote is you go where the private equity goes," he said. "You don't have to be Einstein to say, 'You know what? If this is where the Blackstone money, the Apollo money, you know, the KKR money is going, just follow the herd.'"

By CNBC's Bruno J. Navarro. Follow him on Twitter @Bruno_J_Navarro.

Trader disclosure: On Sept. 13, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Stephen Weiss is long AAPL CALLS; Stephen Weiss is long BAC; Stephen Weiss is long C; Stephen Weiss is long FB; Stephen Weiss is long C; Stephen Weiss is long TBF; Stephen Weiss is long MOS; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long MS; Pete Najarian is long INTC; Pete Najarian is long BBRY; Pete Najarian is long SBUX; Pete Najarian is long FB; Joe Terranova is long VRTS; Joe Terranova is long MOS; Joe Terranova is long OXY; Joe Terranova is long APA; Joe Terranova is long MS; Joe Terranova is long GS; Joe Terranova is long SBUX; Joe Terranova is short XBI; Mark Fisher owns CVX; Mark Fisher owns HES; Mark Fisher owns MPC; Mark Fisher owns PSX; Mark Fisher owns VLO; Mark Fisher owns ABX; Mark Fisher owns EGO; Mark Fisher owns GDX.