Ireland

Ireland faces a moderate energy security risk, being 100% reliant on imported oil, with current gasoline prices at $2.02/L. Its oil reserves stand at 65 days, offering some short-term buffer against supply shocks. While not directly exposed to the Strait of Hormuz, the global supply reduction and elevated Brent crude prices contribute to economic strain, reflected in a moderate food risk and a significant 52% increase in fertilizer costs. The ongoing construction of an LNG import terminal offers future diversification, but in the coming weeks, Ireland will continue to navigate higher fuel costs and potential inflationary pressures.