As oil steadily climbs above $100 per barrel and Iran rejects a U.S. peace proposal, Moody’s chief economist says recession odds are only getting worse.

Some economists cautioned the U.S. economy would be able to absorb the shock of the Iran war.

Goldman said it expected six weeks of Hormuz disruption, with Brent crude averaging $105 per barrel in March and $115 in April before retreating to $80.