After oil prices dipped again Wednesday, "Fast Money" traders looked for safe plays on the battered commodity.

U.S. crude settled more than 3 percent lower, at $36.60 a barrel, after government data showed that stockpiles unexpectedly rose in the last week. Still, some opportunities exist in the sector, said trader Tim Seymour.

Shares of exploration and production company Occidental Petroleum could have upside from their current price, he said. The stock has fallen nearly 17 percent this year.

Some investors have also bought into giants Exxon Mobil and Chevron after losses of more than 15 percent this year. But trader Guy Adami said he would wait to buy those names as they could see more pain ahead.

Airlines have seen a boost from lower fuel costs in recent months. While he is not bullish on the entire sector, trader Brian Kelly believes Delta Air Lines is primed for a breakout.

He contended that the stock needs to hold above $50 per share to move higher. It closed at just above $51 per share Wednesday.

Adami also looked for potential upside in a travel stock. He believes that Priceline looks appealing if it falls to about $1,200 per share, down from its Wednesday close of about $1,290 a share.

Disclosures:

Tim Seymour

Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JCP, JPM, KO, LGF, RL, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO.

DAVID SEABURG

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc

BRIAN KELLY

Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yen, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY

GUY ADAMI

Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.