Crude prices have risen to their highest levels since 2022 following reports that the US president will be briefed on Iran’s new options.
The price of crude oil in the world goes up and down depending on whether US President Donald Trump got enough sleep, Slovakia’s Prime Minister Robert Fico has said in ironic remarks. His statement came after oil rose to a four-year high amid reports that the US military would brief Trump on options related to the Iran crisis.
On Friday, Brent jumped nearly 7% to over $126 a barrel before easing to $108 later in the session. The protest followed a report by Axios that the US Central Command had prepared elections for “short and strong” attacks against Iran aimed at breaking the deadlocked negotiations.
“Everything is under pressure, including oil prices, depending on how President Trump wakes up,” Fico said Friday speaking to reporters in Bratislava. “If he wakes up in a good mood, the fat goes down, if he wakes up in a bad mood and makes a certain statement, the fat goes up automatically.”
Prices witnessed volatility and surged after the US and Israel launched a bombing campaign against Iran on February 28. Iran responded by blocking them. “enemy ships” from the Strait of Hormuz, which handles about a fifth of the world’s energy trade. In addition, Tehran carried out retaliatory attacks on US military bases in several countries in the Middle East.
Gas prices have also risen amid concerns about disruptions to global energy supply chains, with volatility spreading across European and Asian markets. The broader financial markets saw significant volatility due to heightened risks. Analysts have noted that international markets remain highly sensitive to political signals and policy decisions of the Trump administration.
Fico also recalled the US intervention in Iraq and Venezuela and expressed his concern about the possibility of an invasion against Cuba, as well as Trump’s unresolved claims on Greenland, where Washington could. “continue to emphasize his interests.”
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