Austria

Austria faces moderate energy security risk, with a 98% oil import dependency and 82 days of strategic reserves providing some buffer against the current global supply crunch. While not directly exposed to the Strait of Hormuz, the country's historical heavy reliance on Russian gas pipelines presents a vulnerability, although efforts to transition to LNG imports are underway. Gasoline prices are high at $1.85/L, impacting consumers and businesses. The outlook suggests continued efforts to diversify energy sources, with the next few weeks likely seeing sustained high fuel costs but no immediate supply shortages.