Oil prices surged higher after drone attacks shut Saudi Arabia's East-West pipeline. The move came after a key pipeline closure. Diesel prices set an unprecedented peak. 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 keeps 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 resisted immediate impacts from higher oil and rate hike fears. The local bourse remained steady even as energy costs climbed. Investors are watching the next moves in crude prices. The oil market may remain unstable while Middle East risks persist. Another large price swing remains possible. Energy markets are still tense after the latest escalation.