Oil price rallies 4% as the Russian oil price cap (sanctions) are about to be implemented by the European Union. Will it backfire and cause extreme price swings?

I got, once again, the oil trade on crude futures: from $87 (10/5) to $92 (10/7) which rallied up over 3% while stock markets tanked,  The oil price is now comfortably sitting above its $90 resistance (green line) with supports at $95 and $100 (Putin 'put').   Of course these rallies on the oil price are in lieu of the European Union oil price cap (sanctions) on Russian oil exports, which Russia maybe trying to figure out how to backfire the sanctions by the West.  One possibility would be that they cut production (exports) completely, driving the oil price back up over $100, while setting up their own market place up to countries who are 'friendly'.  Hard to know what the Russian response would be, but OPEC are keen to keep oil prices bloated to cover production costs, which are still rising.

Thus, this will playing havoc with Central Banks trying to contain inflation.