Oil Slides Below $93 a Barrel

Oil fell for a third day Thursday, falling more than $1 to below $93 a barrel after dropping almost $2 on Wednesday, on reports that Chinese manufacturing slowed, Bloomberg News reported.

Crude futures fell $1.61 to as low as $92.67 a barrel in pre-market New York Mercantile Exchange trading, Bloomberg said.

Oil fell $1.88 on Wednesday to finish at $94.28, the lowest Nymex closing price in a week. Oil has not closed below $90 a barrel since April 24.

An index of Chinese manufacturing released Thursday by HSBC Holdings and Markit Economics showed the first contraction in seven months, Bloomberg reported.