Oil prices climbed steeply after drone attacks shut Saudi Arabia's East-West pipeline. The move arrived on the back of an attack on energy infrastructure. Diesel prices reached a new all-time high. That result created fresh stress for 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 amplified 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 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.