US EditionBlackRock CEO predicting ‘global recession’ if oil hits $150
BlackRock CEO Larry Fink warns that sustained oil prices near $150 a barrel due to Middle East conflict risks triggering a global recession with widespread economic impacts.
- BlackRock CEO Larry Fink warned on March 25 that oil hitting $150 a barrel would trigger a "stark and steep recession," stating "We will have global recession" if prices remain elevated.
- The war has effectively closed the Strait of Hormuz to tankers, disrupting one-fifth of the world's oil supply and sending prices spiraling, with Brent crude remaining elevated at $94 on Wednesday.
- Oil prices sank about 4% following reports of a U.S. peace proposal aimed at ending the conflict, though Fink cautioned that threats to trade could persist even after a ceasefire.
- International Energy Agency head Fatih Birol said in Tokyo the agency remains ready to release reserves if necessary, as the world faces a "serious energy security threat."
- Even if the war ends, Iran could force years of oil prices above $100, Fink warned, which has "profound implications in the economy" for the lowest-paid.
19 Articles
19 Articles
The world economy will face a “severe recession” if the price of oil reaches $150 per barrel due to the war against Iran, warned the director of BlackRock, the world’s largest asset manager.
BlackRock CEO Larry Fink warns of global recession if oil hits $150
BlackRock CEO Larry Fink warned this week that the war in Iran could result in a global recession due to the pressure the conflict is putting on international energy markets. Fink, who leads the world’s largest asset manager, said he sees the war ending in one of two “extreme scenarios,” during a BBC interview published Wednesday. One outcome could see Iran again accepted into the international community, with oil prices plunging to record lows…
BlackRock CEO predicting ‘global recession’ if oil hits $150
The CEO of BlackRock warned of a “global recession” if the price of oil hits $150 a barrel amid continuing U.S.-Israeli strikes on Iran. In a Wednesday episode of BBC’s “Big Boss Interview” podcast, Larry Fink said it’s “too early” to know the long-term effects of this conflict. “To me, everybody has to recognize that…
World risks ’recession’ amid high oil prices: BlackRock CEO
The world risks slipping into a global recession if oil prices surge due to the war in Iran, the CEO of investment firm BlackRock has warned. Larry Fink said oil prices could climb as high as $150 a barrel if Iran continues to pose a threat even after the war ends. "If there is a cessation of war, and yet Iran remains a threat – to trade, to the Strait of Hormuz, to the peaceful coexistence of the GCC region – then we could see years of oil abov…
Larry Fink lays out 2 Iran war outcomes: cheaper oil and big growth, or a global recession
Larry Fink is the CEO of BlackRock.Bloomberg/Getty ImagesLarry Fink, CEO of BlackRock, says there are two "extreme" outcomes of the war in Iran.He said that if oil hits $150 a barrel, there will be a "stark and steep recession."But Fink said if Iran could be accepted by the international community, there would be growth.Larry Fink laid out two outcomes from the Iran war: abundance and growth, or a global recession.Speaking on the BBC's "Big Boss…
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