Oil prices were higher today as US PPI came in a lot lower than expected, a sign of easing inflation. Recent numbers could give the Fed more wiggle room for a “pivot”, or to begin slowing the rate increases. “The inflation data was positive in a way. Stocks took off from that and it looks like we’re getting dragged higher now,” said John Kilduff, partner at Again Capital LLC in New York. “We’re still in that inverse dollar effect here”. The global community is investigating an alleged Russian missile that hit NATO ally Poland and Poland has invoked Article 4 of the NATO treaty. Oil supply to Hungary via the Druzhba pipeline has been suspended due to a fall in pressure and Russia’s state-owned pipeline monopoly Transneft has been notified by Ukraine of the disruption. WTI traded up $1.05 or 1.22% to close at $86.92. Brent traded up $0.72 or 0.77% to close at $93.86.