Oil slips in price, down from record high

By: The Associated Press
By: The Associated Press

Oil prices have dropped today after notching a new record yesterday.

Crude was down about $1.50 a barrel to $92 in New York.

Yesterday's surge to almost $94 was blamed on a disruption in Mexico's oil supply. But concern over that has eased today.

Analysts say if the Federal Reserve cuts rates tomorrow as expected, it could further weaken the dollar, which tends to boost prices for commodities, including oil.

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