The new sanctions will defintely inflame Iran once we begin searching their ships for weapons.
I expect Iran will do something stupid and probably mine the Strait of Hormuz and stop all oil shipments.
So when you see Iran making noise, remember that the price of oil is about to skyrocket. Though I would buy Calls on OXY or XOM, but not BP. Although BP may temporarily rise, making it a more attractive short for their increasingly dismal financials.