So it seems like the US is preparing a war with IRAN.
Needless to say that this is total insanity.
Probably it´s a giant stunt to raise the chances of Obamas reelection and to get the intention away from the economy. This is a political game that "leaders" always play once they loose support amoung the population. Maybe we won´t have a war. But the "threat" of a war will probably be held up at least until the presidential election is over.

Here is my take on that from an investing point of view:

If the rhetoric of US officials gets more aggressive over time, oil prices will explode. You think Libya caused a big rally in oil? Wait until the market discounts a war on Iran. In the past week WTI and brent already had quity a rally. Maybe some insiders knew something? Gold will soar as well.
Besides direct commodity investments and ETC´s, oil companies that are NOT engaged in the Middle East might be an interesting buy, like:
- Norwegian Statoil
- Brazilian Petrobras