U.S. HAS GONE BUST
The share-price boom at U.S. energy firms has gone bust, due to slumping global growth and tumbling crude prices.
Companies that drill for oil and natural gas and provide services at the wells were among the most popular investor bets earlier this year, riding the coattails of a decadelong renaissance in U.S. oil and natural-gas production.
The S&P oil-and-gas equipment-and-services subsector surged 23% in 2014 through June 20, the day U.S.-traded crude-oil futures hit their 2014 high at $107.26 a barrel. Among services firms, Nabors Industries Ltd. surged 68% in that period, Halliburton Co. rose 38% and National…
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