Shale Boom Fears Add to Meltdown for Oil's Worst Week Since 2016
- Measure of oil market volatility climbs to highest since Aug.
- S&P 500 Energy Index poised for biggest weekly loss since 2015
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The last time oil had such a bad week two years ago, the commodity was trading near a $26 bottom.
On Friday alone futures in New York lost almost $2, settling below $60 a barrel for the first time this year as the unraveling of global equity markets added to concerns that a new shale boom is in the making.