Reuters: Speculators Bet on Kerry Win

Reuters is reporting that oil prices are already fallling.

Oil prices fell sharply on Monday on speculation that a U.S. election win for Senator John Kerry could ease the geopolitical friction that has helped fuel this year's record-breaking rally.

U.S. light crude settled down $1.63 to $50.13 after diving as low as $49.30 a barrel, breaking below $50 the first time in nearly a month. U.S. crude peaked a week ago at $55.67 a barrel.