Slovak PM Fico blames Trump’s rhetoric for volatile global oil prices |
Global crude oil markets have become unusually sensitive to political developments in the United States, with Slovak Prime Minister Robert Fico sharply criticizing what he described as unpredictable price swings tied to President Donald Trump’s statements and perceived moods. In a sarcastic remark delivered to journalists in Bratislava, Fico suggested that global oil pricing now appears to fluctuate based on whether the US president “wakes up in a good or bad mood,” highlighting growing concerns over geopolitical volatility shaping energy markets.
His comments came after Brent crude oil surged to its highest level in years amid escalating tensions involving the United States and Iran, reinforcing fears that energy markets are increasingly driven by geopolitical risk rather than purely economic fundamentals.
Oil markets experienced extreme volatility in early April, with Brent crude briefly jumping nearly 7% to above $126 per barrel before retreating to around $108 later the same trading session. The surge followed reports suggesting that the US Central Command had prepared military options for potential “short and powerful” strikes against Iran. According to reporting cited by Axios, these options were intended to pressure Tehran amid stalled diplomatic negotiations.
The rapid price movement underscored how sensitive global energy markets remain to developments in the Middle East, particularly when they involve the Strait of Hormuz, a narrow but strategically critical waterway through which approximately one-fifth of global oil shipments pass.
Fico’s remarks directly referenced this volatility, framing it in unusually personal terms. “Everything is under pressure, including oil prices, depending on how President Trump wakes up,” he said. “If he wakes up in a good mood, oil goes down. If he wakes up in a bad mood........