Proxy wars screwing up oil prices worldwide

You have to start with Russia to make sense of all this. If Russia hadn't demanded Assad stay in power likely none of this (or entirely different problem) would have occurred in this timeline we are presently on.

However, Russia by forcing Assad to stay in power against the majority wishes of the people in Syria actually was the lynchpin in bringing all this about.

Sunnis throughout the middle east saw this as an incredible injustice to all Sunnis everywhere and took this very personally from Russia, Assad, Iran and the Maliki government of Iraq. This eventually created ISIS to become more powerful as conservative and more extreme rich Sunnis from around the middle East funded ISIS to take revenge on more and more Shias.

However, the problem with this now is "Whatever goes around comes around" so the end result might be the end of the governments of Iraq, Iran, Saudi Arabia, Jordan, Syria, Lebanon and possibly even Egypt eventually (though I doubt it).

What will happen to Israel is hard to say. But, we have a Sunni Terrorist Genghis Khan group of fighters numbering at least 10,000 worth now at least 500 million dollars not including all the stolen U.S. and Russian and other weapons they stole form the Iraq government or the Syrian Government or whoever raping and killing anything that moves that isn't Sunni (and some that are Sunni that Disagree with  ISIS) throughout Iraq, Syria, soon possibly Jordan and Lebanon and who knows where next?

These guys are complete opportunists and whoever comes under their control doesn't have much of a life expectancy whether they are the fighters(either side) or the conquered. And because of the larger powers like Russia, the U.S., Europe, Iran, Saudi Arabia etc. ISIS eventually will become toast because the world cannot really allow these guys to destroy all governments in the middle east. (Especially because of oil prices worldwide).

We presently have something that reminds me a little of the beginnings of World War II except there is a proxy war of (Sunni Versus Shia) and then there is a Cold WAr (between Russia against Europe and the U.S. And then there is China sort of doing it's own thing like it always has which is sort of disturbing the whole world too.

What do we call this thing? World war II (II)?

It's not World WAR III because then there would be nukes going off already.