With less than 40 trading days to go in 2013 and markets hovering near all-time highs, the traders kicked off a big week of "Fast Money" by tackling the crude reality of a four-month low in the price of oil.
On Monday, Brian Kelly of Brian Kelly Capital said that "most of this is a supply issue … you're really seeing that oversupply coming into the U.S."
Guy Adami of StockMonster.com took the opposite view, saying that falling crude prices could be caused by a lack of demand. But he added there are still ways to make money in the energy space, citing Exxon Mobil and Newfield Exploration among his favorite picks.
Metropolitan Capital Advisors' Karen Finerman highlighted a different way to trade the move. "A name like a Wal-Mart, if we see gas prices continue to go lower, that can't be bad for them," she said.
Dennis Gartman of The Gartman Letter reiterated his view that crude has more downside ahead. "I think WTI can make its way down to $85," he said. That would signal another 10 percent to drop for oil.
Gartman agreed with Kelly that the price drop is a supply issue, citing domestic production and renewed Libyan output as catalysts. He also said that cheaper crude could have wide-ranging effects across the alternative energy space.
"If crude oil makes its way lower, I think it spells the demise of the solar energy phenomenon," he said.