Oil price rises on Trump threatening Putin, PPI spikes most since 2022, indicating that the stagflation issue has returned. Did it ever leave?

The oil price stays supported over $93.90 on the back of Trump threatening Putin with "very severe consequences" if a Ukraine peace deal cannot be reached. Cold War 2 or what?   

U.S. Producer Price Index came in very hot, rising to 09% in July, which could indicate that Trump's tariffs are adding to price pressures, mostly to do with locally sourced food/products (made in America), so if you see your grocery bills eroding your weekly paycheck, then it would be a mix of tariffs and food prices going upwards on, and yes, also climate change. 

The US Dollar rallied on the inflation/stagflation PPI number.   

Oil price resistance is at $65, support at $61.  Please refer to the above chart. 

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