Speculators betting on Kerry?

LONDON (Reuters) - 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.

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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 were reelected. Latest opinion polls can barely separate the two.

"Under a Kerry administration we'd likely have a much more interventionist SPR policy," said Jamal Qureshi, market analyst at PFC Energy in Washington. "And when you look out a bit further, Bush is more likely to be aggressive in the Middle East, particularly in Iran."

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