Swiss authorities have reaffirmed that the country’s oil and petroleum product supply remains secure and stable, despite heightened uncertainty in global energy markets caused by the ongoing US-Israel war against Iran and the reported closure of the Strait of Hormuz.
The Federal Office of Energy (SFOE) and the Federal Office for National Economic Supply (FONES) issued statements emphasizing Switzerland’s preparedness, including robust strategic reserves and contingency measures.
Brigitte Mader from the SFOE’s media and communication unit told Anadolu Agency in a written response:
“For the time being, supply is guaranteed.”
FONES spokesperson Thomas Grunwald added that the organization — which coordinates with the SFOE and key economic actors — is closely monitoring developments in real time and remains in contact with international bodies such as the International Energy Agency (IEA).
“Appropriate measures have been prepared in case of a supply shortage,” Grunwald stated. “If necessary, the Confederation can release the compulsory reserves.”
Switzerland maintains one of Europe’s most comprehensive mandatory strategic reserve systems for energy security:
Gasoline, diesel, and extra-light fuel oil reserves cover approximately 4.5 months of national demand.
Kerosene (jet fuel) reserves cover around 3 months.
Complementary reserves include uranium bars for recharging the country’s two nuclear reactors.
These reserves are only released to stabilize the market when commercial supply can no longer guarantee availability. Grunwald stressed:
“Mandatory reserves are only used to support the market when it is no longer able to guarantee supply. Currently, Switzerland's supply of petroleum products is secure.”
The assurances come after Brent crude prices surged above $114 per barrel following the conflict’s onset on February 28, 2026, peaking near $120 earlier this week before easing below $84 per barrel. The decline followed U.S. President Donald Trump’s suggestion that the war could conclude soon and that the U.S. might assume control of the Strait of Hormuz.
Analysts, however, warn that prices could spike to $150 per barrel or higher if military operations intensify or if disruptions to the Strait persist. The waterway, which Iran effectively closed around March 1, normally handles roughly 20 million barrels of oil per day and about 20% of global liquefied natural gas (LNG) trade.
The G7 countries recently held discussions on the conflict’s energy market implications, signaling collective readiness to coordinate measures — including potential strategic reserve releases — to stabilize global supply and prices.
Switzerland’s statements reflect a broader European effort to project calm and preparedness amid the crisis, even as the continent remains exposed to energy price volatility and supply risks. The Swiss government continues to monitor the situation closely in coordination with international partners.
