Iran war: Is another 1970s‑style oil crisis looming?

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.

Key takeaways

Quick scan — what you need to know:

• 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?

Background

What led here, in plain terms:

• Back then, many economies plunged into stagflation.
• How bad is the current crisis?

Why it matters

Why readers and decision-makers should care:

• How bad is the current 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.