Oil prices jumped sharply after drone attacks shut Saudi Arabia's East-West pipeline. The move followed a major supply disruption. Diesel prices set an unprecedented peak. That result added strain to the broader energy market. Supply fears from the Middle East continue to lift prices across the sector. A Houthi advance has placed key oil shipping routes under pressure. This development has heightened worries about global supply lines. Traders are assessing the fallout now. Despite these concerns, the Australian stock market (ASX) has shrugged off immediate impacts from higher oil and rate hike fears. The local bourse stayed resilient even as energy costs climbed. Investors remain alert to the next moves in crude prices. The oil market could stay volatile while Middle East risks persist. Another large price swing cannot be ruled out. Energy markets are still tense after the latest escalation.