Iceland

Iceland's overall exposure to the current oil crisis remains low, primarily due to its reliance on geothermal and hydro for most energy needs. While 100% dependent on oil imports, this is predominantly for transportation, and the country maintains a robust 120 days of gasoline reserves. The significant global oil supply disruption and high Brent crude prices will still translate to elevated gasoline costs ($1.88/L) for consumers. However, Iceland's strong energy independence in other sectors and ample reserves provide considerable resilience, suggesting a stable energy outlook for the coming weeks despite ongoing global volatility.