Oil prices jumped sharply after drone attacks shut Saudi Arabia's East-West pipeline. The move followed a major supply disruption. Diesel prices set an unprecedented peak. That result put more pressure on 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 has amplified worries about global supply lines. Traders are monitoring supply 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 watching the next moves in crude prices. The oil market might keep swinging while Middle East risks persist. Another large price swing cannot be ruled out. Energy markets are still tense after the latest escalation.