The conflict is escalating further.

Iran officially closed the Strait of Hormuz on March 2nd, bringing one of the world's most critical energy chokepoints into play.
Roughly 20% of global oil supply passes through that waterway, so oil prices are going to skyrocket further, along with other commodity prices.
If you have energy stocks in your portfolio, this could work in your favor, as it's looking like a commodity cycle once again, driven by supply shortage.