hormuz oil shock

Baker Hughes is working under the assumption that the Strait of Hormuz may not fully reopen for months, a senior executive at the influential oilfield services firm said Friday. Baker is assuming in its financial guidance that the U.S.-Iran conflict continues through the end of June and the strait may not be fully operational until the second half of the year, Chief Financial Officer Ahmed Moghal told investors on the company's first-quarter earnings call. "There's still a great deal of uncertainty regarding, ultimately, the duration and depth of the conflict," Moghal said. Baker is one of the