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BlackRock chairman and CEO Larry Fink insisted the United States’ war with Iran will not have lasting economic consequences, even as oil prices continue to surge nationwide.
“Do I believe the war is going to be lasting a long time? No,” Fink told Fox News chief political anchor Bret Baier. “Do I believe oil is going be reverting back to where it was? Maybe even lower.”
Fink joined “Special Report” Wednesday, where he discussed how artificial intelligence and the war in Iran are affecting the economy. He also addressed whether so-called “woke” corporate initiatives have proven to be a failed experiment.
Strikes on the Iranian leadership, the IRGC, and Iranian naval vessels and oil infrastructure have roiled the markets. ( Sasan / Middle East Images / AFP via Getty Images)
Turning first to market volatility, Fink explained why short-term impacts on energy prices do not alarm BlackRock, the world’s largest asset manager.
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“It creates uncertainty, and uncertainty creates fear,” he said of the war with Iran. “But that being said, the $14.5 trillion of money we manage, most of it is very long-dated. I don’t pay much attention to the short-term volatility.”
Fink’s comments come as energy markets roil amid conflict in the Middle East.
Gasoline prices have surged 20% since the U.S. attacked Iran Feb. 28, causing intensifying pain at the pump. The national average currently sits at $3.58 per gallon for regular gasoline, compared to $2.94 before the U.S. struck Iran, per AAA.
House Republicans are pushing the U.S. to keep a close eye on Russian oil giant Lukoil’s international divestments as the conflict in Iran drives up U.S. gas prices. Russia and Iran are close allies. (Atta Kenare / AFP via Getty Images; Gabby Jones/Bloomberg via Getty Images)
Despite the recent spike, Fink argued that oil prices could fall even lower once the war ends and if Iran reenters the global market.
“If the outcome of the war is a neutralized Iran, and they are allowed to be selling… oil products into the market again, I mean there’s probably a great probability that oil is gonna be below 50,” he said.
Fink cautioned investors against making drastic moves during the U.S.-Israel-led war with Iran, arguing that the volatility could create opportunities.
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“We have seen many people pulling out of the market. And to me, that is the wrong outcome,” Fink argued. “In fact, I’ve been getting so many texts, ‘What should I do?’ And I said, ‘Buy more here.’ This is a good long-term opportunity.”
BlackRock CEO Larry Fink speaks during the World Economic Forum (WEF) annual meeting in Davos on January 21, 2026. (Fabrice COFFRINI / AFP via Getty Images)
The CEO went on to address whether “woke” initiatives like Diversity, Equity, and Inclusion (DEI) and Environmental, Social Governance (ESG) were failed experiments for BlackRock.
“The pendulum moves all the time,” Fink said.
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“Do I believe the pendulum five years ago was too far? Yes.”
BlackRock began rolling back its DEI initiatives last February, citing “significant changes to the US legal and policy environment related to Diversity, Equity and Inclusion (DEI) that apply to many companies, including BlackRock.”
Fink said he feels “more pragmatic” today than he did five years ago and noted that society has moved into a “better position” of increased pragmatism.
Baier continued to press Fink on whether BlackRock pushed its corporate clients too far to a certain side.
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“Do you think BlackRock pushed some companies a little bit further left than you thought?” Baier asked.
“It was never our intention because our job is to be… I gotta be a fiduciary to everybody who gives us money,” Fink responded.
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