Oil prices surged higher after drone attacks shut Saudi Arabia's East-West pipeline. The move came after a key pipeline closure. Diesel prices hit a fresh record. That result created fresh stress for the broader energy market. Supply fears from the Middle East are extending gains across the sector. A Houthi advance keeps key oil shipping routes under pressure. This development is raising worries about global supply lines. Traders are weighing the risks now. Despite these concerns, the Australian stock market (ASX) has resisted immediate impacts from higher oil and rate hike fears. The local bourse remained steady 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 staying jittery after the latest escalation.