BlackRock CEO Larry Fink warns $150 oil could trigger global recession
&imwidth=600&imheight=450&format=webp&quality=medium "BlackRock CEO Larry Fink warns $150 oil could trigger global recession")
CEO of BlackRock Larry Fink speaks during a panel at the BlackRock Infrastructure Summit on March 11, 2026 in Washington, DC. Photograph: (AFP)
BlackRock CEO Larry Fink warns that oil prices nearing $150 could trigger a global recession, citing risks from Iran tensions and rising energy costs.
Larry Fink, the CEO of US financial giant and the world's largest asset manager firm BlackRock, has warned that if oil prices reach $150 a barrel, it will trigger a global recession. According to him, “If Iran remains a threat and oil prices stay high, it will have profound implications for the world economy”.
Fink predicted two extreme scenarios, one in which the conflict is settled, and Iran is integrated into the global economy, and then the prices of oil will fall back to where they were before the war. If it were not, the prices of oil would rise to “years of above $100, closer to $150 oil” and an outcome of "a probably stark and steep recession". "Rising energy prices are a very regressive tax. It affects the poor more than the wealthy," said Fink.
In an interview with the BBC, Fink was seemingly optimistic about the speculation of AI development and asserted that there are “zero” similarities with the financial crisis led by the ‘real-estate’ bubble. This is despite the large narrative driven investement in AI infrastructure, no proper revenue model and huge speculative trading to inflate the AI market.
As energy prices are surging, there are hints of cracks in the base of the global economy, which is “the petrodollar system”. BlackRock itself have restricted withdrawal from investors as the liquidity crunch is quickly approaching. Some fringe analysts are also predicting that the US war of aggression in Iran is a “controlled demolition” of the old world order to a new world order driven by “AI and surveillance”.
"I do not believe we have a bubble at all," he says. "Could we have one or two failures in AI? Sure, that I'm fine with." In 2025, Black Rock was part of the consortium that bought one of the world's largest data centre providers, Aligned Data Centres, for a $40 million deal. So "there is no bubble" is hard to swallow pill from someone whose firm will be badly hit if there were a bubble.
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