Peru ETF Plunges 6.98% in Two Sessions as Oil Prices Surge
The iShares MSCI Peru ETF fell 6.98% over two sessions through March 3 after the U.S.-led strike on Iran and closure of the Strait of Hormuz triggered a 13% oil price surge. This loss places EPU among the top ten worst-performing country funds in global markets.
1. Iran Conflict Triggers Global Energy Shock
Four days into U.S.-led military operations against Iran, the closure of the Strait of Hormuz halted roughly 20% of global crude oil and LNG flows, driving a 13% jump in oil prices over two trading sessions.
2. Peru ETF Loses 6.98% on Energy Import Exposure
The iShares MSCI Peru ETF slid 6.98% between Feb. 27 and March 3 as Peru’s status as a net energy importer left its equity markets vulnerable to surging global energy costs, ranking EPU among the top ten worst-performing country funds.
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