Oil prices jumped sharply 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 put more pressure on the broader energy market. Supply fears from the Middle East continue to lift prices across the sector. A Houthi advance is putting key oil shipping routes under pressure. This development has heightened 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 stayed resilient even as energy costs climbed. Investors remain alert to the next moves in crude prices. The oil market may remain unstable while Middle East risks persist. Another large price swing cannot be ruled out. Energy markets remain on edge after the latest escalation.