The funds at risk: ETFs like PIN ( quote ), THD ( quote ), EPHE ( quote ), TUR ( quote ), FXI ( quote )... A small oil shock could even help jump-start the economies of developed countries and put an end to the Fed and Bank of Japan's deflationary concerns once and for all. If both food and fuel are more expensive, things could get tense -- and to avoid that, central banks are likely to raise interest rates as high as necessary, cooling economic activity in the process.