Historically invading armies sack the banks first and foremost. (Gold and cash) Secondly artworks etc. With oil it's a bit trickier as it's usually still in the ground so the answer has always been regime change as we are seeing in this case.

A large number of people really don't care about where the oil comes from as long as they get cheap fuel for their jet ski, motorcycle and cars etc.

On the market side of things. I've always thought that bitcoin at a $million is absolutely possible. Hyperinflation is a real factor as we have seen time and time again.