Amid an escalating conflict involving Iran‑Israel‑US tensions, now more than three weeks in, with Washington deploying more than 4,000 Marines to the region and weighing further troop movements even as talk of a ceasefire surfaces, oil markets have been swinging sharply in response to both military developments and diplomatic signals.
Larry Fink, one of the eight co-founders of BlackRock and now its chairman and chief executive, has warned that prices could surge to $150 a barrel and push the global economy into recession if Iran continues to threaten energy supply routes even after the war ends.
