Fink Warns of $150 Oil, Global Recession Risk
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
BlackRock CEO Larry Fink warns of potential oil price surge to $150 per barrel due to Iran tensions, threatening global recession. Oil prices have already surged, with Brent crude at $97 and WTI at $90. High oil prices act as a tax on the economy, impacting shipping, airlines, food, and manufacturing. Wall Street firms raise recession alarms, with Goldman Sachs at 30% and Moodys at 49%. Prolonged disruptions could exacerbate inflation and growth issues, making economic slowdowns harder to avoid.
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