The ongoing conflict in Iran is causing concerns about supply disruptions and high oil prices, reminiscent of the oil crises of the 1970s. Economies are bracing for potential stagflation. Experts warn of a looming crisis.

Supply disruptions, high prices, nervous markets — the war in Iran brings back memories of the oil crises of the 1970s. Back then, many economies plunged into stagflation. How bad is the current crisis?