$IEZ

The ETF holdings operate in the Oilfield Services sector. IEZ’s giants, SLB (Schlumberger), Baker Hughes, and Halliburton, are the biggest players especially in the Middle East. Once Arab countries understand the Hormuz risk, they will want to move oil to the Mediterranean through pipelines. That means they will have to open more wells or optimize production, which directly increases demand for the equipment and engineering services of IEZ companies.
On the 3 month chart, we can see that it hit the red resistance band and the supertrend