March 25 (Reuters) – BlackRock CEO Larry Fink said oil prices could reach $150 a barrel and \u200ccause a “global recession” if Iran “remains a threat” \u200ceven after the war ends.<\/p>\n
“If there is a cessation of \u200bwar, and yet Iran remains a threat, a threat to trade, a threat to the Strait of Hormuz, a threat to this peaceful coexistence of the \u200cGCC region, then \u2060I would argue that we could have years of above $100 closer to $150 oil which \u2060has profound implications in the economy,” Fink told BBC’s Big Boss Interview podcast published on Wednesday.<\/p>\n
“We will \u200bhave global recession,” \u200bhe said, when asked \u200bif oil stays at $150 \u200ca barrel.<\/p>\n
Oil prices have remained volatile and risen sharply since the U.S.-Israeli war on Iran began. However, prices sank about 4% on Wednesday after reports the U.S. had sent Iran a 15-point proposal aimed \u200cat ending the war, raising \u200bprospects of a ceasefire.<\/p>\n
The war \u200bhas all but \u200bhalted shipments of oil and liquefied \u200cnatural gas through the Strait \u200bof Hormuz, \u200bwhich typically carries about one-fifth of the world’s gas and crude supply, causing what the International \u200bEnergy Agency \u200chas called the biggest-ever oil supply disruption.<\/p>\n
(Reporting \u200bby Anusha Shah in Bengaluru; Editing by Sonia \u200bCheema and Arun Koyyur)<\/p>\n","protected":false},"excerpt":{"rendered":"March 25 (Reuters) – BlackRock CEO Larry Fink said oil prices could reach $150 a barrel and \u200ccause…\n","protected":false},"author":2,"featured_media":365540,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,55216,61,11829,60,28505,20673,164777,150177],"class_list":["post-365539","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-global-recession","tag-ie","tag-iran","tag-ireland","tag-larry-fink","tag-oil-prices","tag-peaceful-coexistence","tag-strait-of-hormuz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/365539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=365539"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/365539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/365540"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=365539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=365539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=365539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}