Larry Fink: the war with Iran could lower energy prices in the future

BlackRock CEO Larry Fink said that, in the long term, the conflict with Iran could lead not to higher but to lower energy prices.

In his view, after the war—and if Iran’s energy market potentially opens to the world—supply could increase, while advances in technology and AI could strengthen deflationary pressure on the economy.

His remarks came amid a sharp jump in oil prices. Brent rose by nearly 5% on Wednesday after reports of mining in the Strait of Hormuz and attacks on vessels near it. About 20% of the world’s oil passes through this route, and its effective blockage has already heightened market tensions.

The International Energy Agency announced the release of 400 million barrels of oil from strategic reserves to curb price increases. Since the conflict began, oil prices have already risen by around 20%, with the consequences being felt by consumers and the global economy.