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U.S. shale junk debt tumbles amid oil crunch

Prices for the risky corporate bonds that have fueled the U.S. shale energy boom are plummeting as oil prices have fallen below $60 a barrel for the first time in more than five years.

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T. Boone Pickens’ energy holdings lost nearly half of their value in fourth...

Oil’s more than 51 percent decline since June 20 has eroded profits and forced major producers and drillers to cut more than $40 billion in spending and fire 50,000 workers.

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