Oil prices climbed steeply 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 created fresh stress for the broader energy market. Supply fears from the Middle East are supporting the rally 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 resisted immediate impacts from higher oil and rate hike fears. The local bourse held firm even as energy costs climbed. Investors are watching the next moves in crude prices. The oil market could stay volatile while Middle East risks persist. Another large price swing is still on the cards. Energy markets remain on edge after the latest escalation.