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CityHall Donating Member (332 posts) Send PM | Profile | Ignore Mon Nov-01-04 06:42 PM
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Speculators Bet on Kerry Win, Oil Falls
Speculators Bet on Kerry Win, Oil Falls

By Richard Mably

LONDON (Reuters) - Oil prices fell sharply on Monday on speculation that a U.S. election win for Senator John Kerry (news - web sites) 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.

In London, Brent crude lost $1.92 to $47.06 a barrel.

Energy analysts said a win for the challenger Kerry in Tuesday's U.S. presidential election could mean lower crude prices than if President Bush (news - web sites) were reelected. Latest opinion polls can barely separate the two.

http://story.news.yahoo.com/news?tmpl=story&cid=568&e=3&u=/nm/markets_oil_dc
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MikeG Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-01-04 06:45 PM
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1. Smart money already knows.
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Yo_Mama_Been_Loggin Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-01-04 09:24 PM
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2. Yep
Happy days are here again
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