The conflict between the United States and Iran has moved past its ceasefire-and-relapse pattern into what looks like a sustained escalation track. U.S. Central Command has now carried out twelve consecutive nights of strikes against Iranian targets, and the memorandum of understanding that was meant to keep the Strait of Hormuz open has effectively collapsed after Tehran was accused of attacking three commercial ships in a single week. What follows is a rundown of the indicators worth tracking and what they suggest about where this goes next.