BlackRock CEO Larry Fink said oil at $150 a barrel would bring about a "stark and steep recession," warning that a prolonged campaign against Iran could hold energy prices at that level for years, according to The Hill.
Fink said the conflict's resolution will land at one of two extremes. One path he described would see Iranian oil flow back into global markets once military operations concluded, bringing energy prices down. The darker scenario, Fink warned, would leave Tehran as a persistent regional destabilizer, holding crude prices at or above $100 for an extended stretch — potentially near $150 — with what he described as "profound implications" for the global economy.
Oil prices remained elevated this week, with WTI, the U.S. benchmark, at roughly $91 a barrel and Brent, the international benchmark, near $103. AAA data showed the national average for regular unleaded gasoline at $3.98, up more than $1 from the prior month.
