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 shrinking factory activity. Benchmark oil for July delivery fell 57 cents to $92.88 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $1.48 to close at $93.45 a barrel on the Nymex on Monday, according to a report of the Associated Press.