BlackRock CEO Larry Fink has warned of an impending global recession if the US-Israeli war on Iran drags on and oil prices remain above $100 a barrel. The stark prediction comes just weeks after Fink framed the conflict as a good long-term investment opportunity.
In a wide-ranging interview with the BBC this week, Fink said oil prices could stay above $100 per barrel for years if Iran “remains a threat,” potentially hitting $150 and sparking “a probably stark and steep recession.”
He described two scenarios for the conflict – one in which Iran is “accepted again by the international community,” allowing oil to fall below pre-war levels, and another in which tensions persist, leading to sustained high energy costs with “profound implications” for the global economy.
However, earlier this month, Fink, whose company holds significant stakes in major US defense contractors, struck a markedly different tone. During an appearance on Fox News, he dismissed the notion of a prolonged war, predicting that oil would “revert back to where it was and maybe even lower” once the conflict ends.
Hellbound and Down 