Oil at $150 will trigger global recession, says boss of financial giant BlackRock
Larry Fink, who leads the world's largest asset manager, said if Iran "remains a threat" and oil prices stay high it will have "profound implications" for the world economy. Kenya breaking news | Kenya news today |..
✨ Key Highlights
The boss of financial giant BlackRock warned that oil prices hitting $150 a barrel would trigger a global recession.
- $150 a barrel oil price could lead to a "stark and steep recession."
- Larry Fink, CEO of BlackRock, a financial firm managing $14 trillion in assets.
- Fink also dismissed comparisons to the 2007-08 financial crisis and expressed optimism about the growth potential of AI, while urging a rebalancing of educational focus towards technical trades.
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CS Wandayi Orders Oil Marketers to Release Hoarded Fuel - March 2026
Energy Cabinet Secretary Moses Wandayi has ordered oil marketers to immediately release fuel that is allegedly being hoarded and hidden from the market, as Kenya experiences a growing fuel shortage with petrol stations running dry across the country. This comes despite Wandayi's earlier assurances that sufficient stocks are available. The Petroleum Outlets Association of Kenya (POAK) has also urged the Energy and Petroleum Regulatory Authority (EPRA) to increase fuel prices to align with global markets and prevent impending shortages. The boss of financial giant BlackRock separately warned that oil prices hitting $150 a barrel would trigger a global recession, adding to concerns about energy costs.
