From Reuter's today:
"LONDON (Reuters) - Oil prices fell heavily on Monday, taking U.S. crude below $50 on speculation that a U.S. election win for Senator John Kerry (news - web sites) could ease the geopolitical friction that helped fuel this year's record-breaking rally."
http://story.news.yahoo.com/news?tmpl=story&ncid=749&e=1&u=/nm/20041101/bs_nm/markets_oi
l_dc
I find this very interesting...
- A very good indication that the market is voting that Kerry will win.
- That a Kerry win means lower oil prices because the market believes he can improve the international situation, probably refering to tensions in the Mideast and the war in Iraq in particular.
- An additional argument on to vote for Kerry: lower price per barrel ultimately means lower price at the pump, lower inflation, and more jobs.