March 25 (Reuters) – BlackRock CEO Larry Fink said oil prices could reach $150 a barrel and ‌cause a “global recession” if Iran “remains a threat” ‌even after the war ends.

“If there is a cessation of ​war, and yet Iran remains a threat, a threat to trade, a threat to the Strait of Hormuz, a threat to this peaceful coexistence of the ‌GCC region, then ⁠I would argue that we could have years of above $100 closer to $150 oil which ⁠has profound implications in the economy,” Fink told BBC’s Big Boss Interview podcast published on Wednesday.

“We will ​have global recession,” ​he said, when asked ​if oil stays at $150 ‌a barrel.

Oil prices have remained volatile and risen sharply since the U.S.-Israeli war on Iran began. However, prices sank about 4% on Wednesday after reports the U.S. had sent Iran a 15-point proposal aimed ‌at ending the war, raising ​prospects of a ceasefire.

The war ​has all but ​halted shipments of oil and liquefied ‌natural gas through the Strait ​of Hormuz, ​which typically carries about one-fifth of the world’s gas and crude supply, causing what the International ​Energy Agency ‌has called the biggest-ever oil supply disruption.

(Reporting ​by Anusha Shah in Bengaluru; Editing by Sonia ​Cheema and Arun Koyyur)