Oil futures prices continued to slip to...

Oil futures prices continued to slip to levels not seen since October, 1986, as traders remained skeptical about OPEC’s ability to cease its overproduction. There was no fresh news to account for the decline, but traders said confidence was lacking after Tuesday’s plunge in prices. On the New York Mercantile Exchange, the October contract for delivery of West Texas Intermediate, the benchmark grade of U.S. crude, fell 8 cents a barrel to $14.16. The contract had dropped 55 cents a barrel on Tuesday.