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Larry Fink says the Iran war ends in one of two extremes: Abundance, growth, and oil at $40 a barrel, or a global recession and years of oil at $150

“I could paint a scenario where I could see, a year from now, oil at $40 a barrel; I could see it above $150. We have two very extreme outcomes,” Fink told the BBC this morning.

Oil hitting $150 could trigger a sudden global recession, warns BlackRock CEO Larry Fink

Brent crude futures was down $5.66, or 5.42 per cent, to $98.83 a barrel by 10:22 GMT.

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Chief of financial giant BlackRock, which controls $14tn worth of assets, warns of global recession if price of oil reaches $150 a barrel

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The head of BlackRock has warned that oil prices rising to $150 per barrel would push the global economy into recession

'Stark and steep' global recession warning over Iran war

The head of a US financial giant says the consequences could be severe for the global economy if oil stays above 100 or 150 dollars a barrel

BlackRock CEO Fink warns of 'global recession' if oil goes to $150

BlackRock CEO Larry Fink warns that oil prices could surge to $150 a barrel and trigger a global recession if Iran continues to pose a threat to trade and the Strait of Hormuz, even after a cessation of hostilities. Despite recent price drops on ceasefire hopes, the ongoing conflict has severely disrupted global oil and LNG shipments.