Halliburton (HAL) Drops 6.78% on Israel-Iran Ceasefire

Halliburton Company (NYSE:HAL) is one of the These 10 Stocks Took A Shocking Fall.

Halliburton dropped its share prices by 6.78 percent on Monday to close at $20.77 apiece as investors sold off positions following the stabilization in oil prices, brought about by the ceasefire between Israel and Iran.

Halliburton Company (NYSE:HAL) dropped alongside its energy counterparts after President Donald Trump announced that the two Middle Eastern countries had officially agreed on a ceasefire. The oil and gas equipment and services sector alone declined by 4.51 percent.

It can be recalled that the energy sector was among the industries that benefited from the two countries’ conflict with skyrocketing oil prices.

In other news, Halliburton Company (NYSE:HAL) bagged a contract from GeoFrame for the latter’s geothermal and direct lithium extraction projects.

Under the agreement, Halliburton Company (NYSE:HAL) will plan and design the first demonstration phase wells in the Smackover Formation in East Texas. Work is expected to begin in late 2025.

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.