Oil prices surged higher after drone attacks shut Saudi Arabia's East-West pipeline. The move followed a major supply disruption. Diesel prices reached a new all-time high. That result put more pressure on 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 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 remained steady even as energy costs climbed. Investors remain alert to the next moves in crude prices. The oil market might keep swinging while Middle East risks persist. Another large price swing remains possible. Energy markets remain on edge after the latest escalation.