We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Israel launched a surprise attack on Iran on June 12, triggering global market turmoil. The Israeli government described the assault as a "preemptive strike" against what it claimed was Iran’s advancing nuclear weapons program. Explosions were reported across Tehran following the attack.
Israel Braces for Retaliation
In response to the escalating tensions, Israel’s defense minister declared a state of emergency and said the country was preparing for possible retaliation from Iran. Meanwhile, U.S. Secretary of State Marco Rubio confirmed the United States was not involved in the strikes and cautioned Iran against targeting American assets or personnel.
Impact on Oil Prices
The conflict immediately jolted commodity markets. Crude oil surged about 5% (at the time of writing), reflecting investor fears over supply disruptions from Iran, OPEC+’s third-largest producer.
Country ETFs to Gain/Lose
Against this backdrop, below-mentioned country-based exchange-traded funds (ETFs) may gain/lose.
Norway is among the top 10 nations famous for oil exports and with its comparatively low population, oil forms the key part of the country’s GDP. Per U.S. Energy Information Administration (EIA), Norway is the largest oil producer and exporter in Western Europe.The oil and gas sector makes up around 22% of Norwegian GDP and 67% of Norwegian exports.
Canada is also among the world’s top 10 oil producers. The oil, gas and mining sector makes up about over a quarter of Canada’s economy. The country is one of the world's largest producers of dry natural gas.
Image: Bigstock
Country ETFs to Gain/Lose on Oil Price Rebound
Israel launched a surprise attack on Iran on June 12, triggering global market turmoil. The Israeli government described the assault as a "preemptive strike" against what it claimed was Iran’s advancing nuclear weapons program. Explosions were reported across Tehran following the attack.
Israel Braces for Retaliation
In response to the escalating tensions, Israel’s defense minister declared a state of emergency and said the country was preparing for possible retaliation from Iran. Meanwhile, U.S. Secretary of State Marco Rubio confirmed the United States was not involved in the strikes and cautioned Iran against targeting American assets or personnel.
Impact on Oil Prices
The conflict immediately jolted commodity markets. Crude oil surged about 5% (at the time of writing), reflecting investor fears over supply disruptions from Iran, OPEC+’s third-largest producer.
Country ETFs to Gain/Lose
Against this backdrop, below-mentioned country-based exchange-traded funds (ETFs) may gain/lose.
ETFs to Gain
Norway – iShares MSCI Norway ETF (ENOR - Free Report)
Norway is among the top 10 nations famous for oil exports and with its comparatively low population, oil forms the key part of the country’s GDP. Per U.S. Energy Information Administration (EIA), Norway is the largest oil producer and exporter in Western Europe.The oil and gas sector makes up around 22% of Norwegian GDP and 67% of Norwegian exports.
Canada – iShares MSCI Canada ETF (EWC - Free Report)
Canada is also among the world’s top 10 oil producers. The oil, gas and mining sector makes up about over a quarter of Canada’s economy. The country is one of the world's largest producers of dry natural gas.
ETFs to Lose
India – iShares India 50 ETF (INDY - Free Report)
India is almost entirely dependent on imports to back its oil needs. An oil price rally could thus be a major deterrent to India investing.
Turkey – iShares MSCI Turkey ETF (TUR - Free Report)
Normally, Turkey’s 90% of the crude requirements are satisfied by imports. In any case, the country’s economy has been suffering from high inflation.