[omnomynous]

The oil in Russia did not disappear off the face of the planet, it's just temporarily inaccessible. The global demand for oil did not disappear, there was just a supply shock of sociopolitical origin.

Sooner or later, Russia will either stop the invasion or be stopped. Regardless of which outcome occurs, the global oil market will begin to stabilize after the oil that exists in Russia starts flowing again.

It's not a stretch to guess that oil prices could easily drop back below $100/barrel once this occurs, even if just briefly, as the increased pumping by OPEC will take a couple days to be dialed back.

I'm not a financial advisor, and this is not financial advice, but I'm currently shorting oil.