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Hugh Gimber, global market strategist at JPMorgan Asset Management, warned on Bloomberg Television that oil reaching $200 a barrel would cause a recession. Macquarie has predicted oil could hit a record $200 if the Iran conflict continues until June. Gimber said this is why markets are so focused on finding a diplomatic off-ramp.

Hugh Gimber, global market strategist at JPMorgan Asset Management, discusses market positioning as the Iran war continues and Macquarie said oil may hit a record $200 a barrel if the conflict drags on until June. "I think it would be a recession at $200 a barrel," Gimber tells Bloomberg Television. "That's why we're seeing such focus on finding an off-ramp," he adds. (Source: Bloomberg)