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Market Mystery: Oil Trading Out of Wack?

The traders are fixated on the spread between WTI and Brent , which is hovering near an all time high.

How should you trade it?

”WTI traded 80-85 in June 09 and it’s there again. I think oil is at fair value again in WTI," says Tim Seymour.

"By contrast, Brent blew out on Egypt and Libya in the first part of the year and stayed there. It’s Brent that hasn’t come in," he adds.





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Trader disclosure: On Sep 6 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Seymour owns (BAC); Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman owns (JPM) and Finerman’s firm owns (JPM) stock and (JPM) leaps; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU)

For Dennis Gartman
Funds Managed By Dennis Gartman Own (PGH)
Funds Managed By Dennis Gartman Own (CF)
Funds Managed By Dennis Gartman Own (MCP)
Funds Managed By Dennis Gartman Own (FAX)
Funds Managed By Dennis Gartman Own the Canadian Dollar
Funds Managed By Dennis Gartman Own the Australian Dollar
Funds Managed By Dennis Gartman are short the Euro and the Sterling
Funds Managed By Dennis Gartman Own Corn
Funds Managed By Dennis Gartman are short Soybeans
Funds Managed By Dennis Gartman are short S&P 500 futures
Funds Managed By Dennis Gartman own Aussie Dollar

For Brian Kelly
Accounts managed by Brian Kelly Capital own (TLT) options
Accounts managed by Brian Kelly Capital own (MON)
Accounts managed by Brian Kelly Capital own (MCP)
Accounts managed by Brian Kelly Capital are short (EWG)
Accounts managed by Brian Kelly Capital are short (FXF) options
Accounts managed by Brian Kelly Capital are short (FXE) options

For Rebecca Patterson
** No disclosures

For John Roque
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