Halliburton warns that war with Iran will drive up costs, but Q1 profits beat expectations

Previously, the company's first-quarter profits exceeded market expectations. The Strait of Hormuz is a key chokepoint for global energy transportation. On Tuesday, the company stated that rerouting increased logistics costs, while ongoing conflicts also drove up raw material prices. As investors focus on potential gains that regional infrastructure repair might bring, Halliburton was the first among global oilfield service providers to release its results. Energy research institute Rystad Energy estimated the value of these repair efforts could reach up to $58 billion.