If oil is cut off from Iran, it could also impede supply in Iraq as Iran will use it’s influence to cause chaos wherever they can. There is significant potential for an Israeli strike against Iran before the U.S. Presidential elections. Israel would want to use its leverage before the outcome of the election is certain. One thing looks clear to me. If there is a major disruption of oil from the MidEast, “Drill Baby Drill” will be the U.S national anthem.
Buy OIH, the ETF. Buy HAL, SLB, BAS,WFT probably just about any driller for oil will work well.