Oil prices could hit $150 per barrel: BlackRock's Larry Fink
Business
Larry Fink, CEO of BlackRock, says oil prices might jump to $150 per barrel if tensions with Iran keep rising.
He warns this could push the world into a recession, since the ongoing conflict is still messing with global oil and gas shipments, even as some hope for a ceasefire.
Iran's role in oil transport
On BBC's Big Boss Interview podcast, Fink pointed out that Iran has significant influence over the Strait of Hormuz, a tiny but crucial route where about 20% of the world's oil and gas flows.
Any trouble there can quickly shake up prices worldwide, making this one of the biggest supply disruptions in recent history.