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 has placed key oil shipping routes under pressure. This development has amplified worries about global supply lines. Traders are weighing the risks now. Despite these concerns, the Australian stock market (ASX) has shrugged off immediate impacts from higher oil and rate hike fears. The local bourse held firm even as energy costs climbed. Investors are focused on the next moves in crude prices. The oil market may remain unstable while Middle East risks persist. Another large price swing is still on the cards. Energy markets remain on edge after the latest escalation.