What's Going On with Oil?

I was surprised to see oil going up in the last few days.  But why?  There was still oversupply.  I read different articles about it, and concluded that no one else knew either, including the financial news networks.  It all started about two weeks ago.  Fox News was reporting that the market was in a nosedive.  The reporter then said, "But the market is up 20 points."  The market closed up 200 points that day, and the price of oil started to rise also.   

For several days I tried to find some explanation, and continued to be amazed to see that prices were rising for no apparent reason.  Not only oil, but the whole stock market.  

I finally found an article that felt that the rise in oil prices was due to the concern over the stability of the supply of oil in light of Russian airstrikes in Syria.  In fact, the author suggested that raising the price of oil was the actual reason for the airstrikes, as lower oil prices have been very damaging to the Russian economy. Well, the price of oil did go up at the same time as the airstrikes.  

This lead to the thought that a number of other nations may finally have had enough of the low oil prices and may resort to similar tactics in an effort to raise oil prices.  

The blame for the oil glut has been laid at the door of Saudi Arabia, since they have traditionally been the ones that kept prices in the profitable zone by rationing the amount of oil they put on the market.  But why is that Saudi Arabia's duty?  

The fact is that the supply of oil is more fragile than most people realize.  Or maybe vulnerable is a better word.  

One more thought.  One of the articles I read called oil a "fossil fuel."  Fine.  But when is the last time you've heard oil or gas called fossil fuels?  Why has that term fallen out of favor?  I have a theory.  

In my school days we were at first taught that oil resulted from the ancient bodies of dinosaurs being buried in large numbers under a huge amount of soil.  That didn't quite make sense.  After that, the story was that oil was ancient jungles and forests crushed underground.  OK.  What happened to the dinosaur story? 

My theory.  Long ago there was a gigantic flood.  Before the flood there were as many people on earth as there are right now, maybe even a lot more.  Bad people.  They were covered up with massive flood waters and mountains of mud.  The oil fields are the places where their cities used to be.  Yes! We are cannibalizing pre flood people and running our cars on their remains!  And this was probably discovered by oil scientists who analyzed the oil to check for DNA.  Imagine how surprised they must have been to find human DNA. This didn't seem good.  How would people feel about using the remains of other people to fill their tanks?  So they decided right away to quit calling it fossil fuels, lest some of us start wondering which fossils and connect the dots.