The Iran war is heating up, not ending — bad news for oil markets, US troops in the Gulf, and Americans facing higher gas prices.

• Despite both sides claiming a ceasefire, the US has kept striking Iran near the Strait of Hormuz, and Iran is now hitting back.
• Iran attacked US bases and airports in Gulf countries like Kuwait and Bahrain to push the US out of the region.
• The Strait of Hormuz is now effectively under Iranian control, and ships pay a $2 million toll to pass — a big risk to global oil and fertilizer supplies.
• Iran can't strike the US directly, so it targets US bases in Gulf states instead; the war has already driven up gas prices and spending.
• Israel's ongoing attacks on Lebanon are blocking any real peace deal, and Trump won't commit to keeping troops off the ground.

Outlook: Expect more tit-for-tat strikes and rising oil and gas prices unless the US simply walks away, which seems unlikely.