NEW YORK (TheStreet) -- The broader market closed at session highs as WTI crude oil prices hit a 4-1/2 month low.
On CNBC's "Fast Money" TV show, Brian Kelly, founder of Brian Kelly Capital, said it seems to be a supply issue for crude oil. He is still short Pioneer Natural Resources (PXD) and says weakening crude prices could be bad for Texas banks.
Karen Finerman, president of Metropolitan Capital Advisors, said lower energy prices should benefit retailers such as Wal-Mart (WMT).
Dennis Gartman, publisher of The Gartman Letter, was a guest on the show and said WTI crude oil could work its way down to $85 per barrel. He added the drop is from oversupply and it is not a reason to worry about the overall economy. He concluded that lower oil prices could hurt solar- and wind-powered energy.
Tim Seymour said he would not worry about solar stocks as there is no longer a glut of supply and many of the companies have strengthened their balance sheets.
Kelly is concerned about Marathon Oil's (MRO) exposure to Libya, but for now the stock looks good for more upside action.