The price of oil fell below $93 a barrel Tuesday as traders scaled back their optimism about the U.S. economy following a report that showed a drop in factory activity.
By early afternoon in Europe, benchmark oil for July delivery was down 55 cents to $92.90 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, the Nymex contract added $1.48 to close at $93.45 a barrel.
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