BlackRock CEO, Larry Fink, has warned of a potential global recession if geopolitical tensions involving Iran persist, potentially leading oil prices to $150 a barrel. This comes amidst a period of volatile energy markets, with Brent crude trading at $97.26 a barrel and WTI at $90.32. Fink argues that even if the war ends, threats to trade the Strait of Hormuz could keep oil prices above $100, which could have significant implications for the global economy. Goldman Sachs has also raised its recession odds to 30% from 25%. The U.S. has had three widely recognized oil-driven recessions, 1973-75, 1980, and 1990-91, and some economists argue that the number should be four. If oil prices stay high enough long enough, the economic consequences will be more severe.