Slovak PM Mocks Market Volatility as Oil Prices Swing on Geopolitical Tensions

(MENAFN) Slovak Prime Minister Robert Fico has used sarcastic remarks to criticize what he sees as extreme instability in global oil markets, suggesting that prices fluctuate in reaction to unpredictable signals from US President Donald Trump.

His comments followed a sharp rise in crude prices, which recently reached a four-year high amid heightened tensions related to the Iran conflict and reports that US military leadership was preparing to brief Trump on possible military options. According to reports, Brent crude briefly surged to around $126 per barrel before easing back later in trading, reflecting heightened volatility driven by geopolitical developments.

Fico joked that oil prices appear to move depending on Trump’s personal condition, stating: “Everything is under pressure, including oil prices, depending on how President Trump wakes up,” and adding, “If he wakes up in a good mood, oil goes down, if he wakes up in a bad mood and makes some statement, oil automatically goes up.”

Market turbulence has been fueled by fears of disruption to global energy supplies, particularly around the Strait of Hormuz, a critical route for oil transport. Escalating tensions in the region, including military actions and retaliatory measures, have contributed to sharp price swings and uncertainty across global energy markets.

Analysts note that prices have been highly sensitive to political developments, especially statements or actions linked to the US administration and the broader conflict environment. While some officials argue that market fear is amplifying movements, the situation on the ground continues to influence investor expectations and trading behavior.

Fico also referenced past US military actions and broader geopolitical ambitions, expressing concern about potential further escalation and its impact on global stability.

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