NEW YORK ( TheStreet) -- Rising commodity prices have been the talk of the Street for weeks, leading investors to seek out new and promising ways to gain access to wheat, coal, copper and other hard assets.

Energy, in particular, has gained a great deal of investor interest as improving economic conditions around the globe help lift crude prices back toward the $100 level. This week, looking ahead to the new year, the International Energy Agency offered a promising outlook for energy, revising its 2011 global oil demand forecasts higher.

Targeting oil and other facets of the energy sector has become a simple endeavor, thanks to the advent of exchange-traded funds. Using products such as the

United States Oil Fund

(USO) - Get Report

, or the

iShares Dow Jones U.S. Oil Equipment & Services Index Fund

(IEZ) - Get Report

, investors can directly capture the price action of this fuel source through futures contracts, or take an indirect approach to the industry and play the effect of rising prices on producers.

A third and less obvious way investors can track the energy industry is through the use of a number of international-focused ETFs. Across the globe, a number of prominent emerging and developed players boast ample exposure to the energy market. Reflecting this, ETFs designed to track their respective economies are often heavily dedicated to this industry.

Among popular emerging market ETFs, the

iShares MSCI Brazil Index Fund

(EWZ) - Get Report

and the

Market Vectors Russia ETF

(RSX) - Get Report

stand out as two attractive energy proxies.

Both EWZ and RSX are headlined by massive energy enterprises. Within EWZ, the large, state owned energy giant,

Petroleo Brasileiro

(PBR) - Get Report

, accounts for approximately a fifth of the index, making it the fund's largest position. Meanwhile, a trio of energy goliaths dominates RSX's top five positions. Collectively,

Lukoil

(LUKOY),

Gazprom

(OGZPY), and

Rosneft

represent a 23% slice of the fund's index.

RSX's oil exposure goes beyond these three names, however. In total, companies involved in the production of oil, gas, and other components of the energy spectrum represent close to 40% of the fund's total portfolio.

The developed world boasts a number of energy-dominant players as well. Two ETFs that internationally-minded energy bulls should keep on their radars in the coming months are the

Global X FTSE Norway 30 ETF

(NORW) - Get Report

and the

Guggenheim Canadian Energy Income ETF

(ENY)

.

Thanks to their abundant supplies of natural resources, both Canada and Norway are projected to be major global energy contributors down the road. In late 2010, Canada's Finance Minister, Jim Flaherty highlighted Canada as an "emerging energy superpower."

Both ENY and NORW target the energy industries of their respective nations. NORW's index is headlined by

Statoil

(STO)

, which alone accounts for nearly 20% of the fund's index. From a sector perspective, oil and gas companies account for a combined 40% of the portfolio.

ENY is different from the other ETFs listed above. Rather than attempting to capture the broad Canadian economy, this Guggenheim product tracks a basket of royalty trusts and companies involved in the nation's oil sands industry, thereby providing energy-minded investors with a pure-play option.

With markets around the globe recovering and developing, the prospects for the energy industry appear promising. Investors looking for exotic ways to capture this upside may find attractive opportunities from international funds such as EWZ, RSX, NORW and ENY.

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At the time of publication, Dion Money Management owned ENY.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.