Oil Slips But Remains Over $90 a Barrel

Oil slipped in early trading Monday after its biggest monthly gain in two years, falling to near $92 a barrel, Bloomberg reported.

Crude futures fell more than $1 to as low as $92.25 per barrel as New York Mercantile Exchange trading opened, Bloomberg said.

Thursday’s $93.96 closing price was the highest in three months, and oil jumped almost $14 in October, according to Bloomberg Nymex figures.

The price slipped Monday in part due to projected lower demand, Bloomberg reported, citing analysts.

The Department of Energy will release its monthly survey of diesel and gasoline pump prices Monday afternoon in Washington.