Saudi-led coalition said it intercepted a drone in the Mecca region.

The Standing Committee of the 14th National People's Congress approved a revised Water Law on Nov. 6; it takes effect March 22, 2027. The law comprises nine chapters covering planning, protection, development and use of water resources; allocation and conservation; river and lake management; water-project construction and operation; dispute resolution and supervision; legal liabilities and final provisions. It requires implementation of Party and state policies and China’s water-governance guidance, prioritizes water saving, spatial balance and systemic governance, and calls for coordinated use of government authority and market mechanisms. The law mandates comprehensive planning, integrated treatment of root causes and symptoms, efficiency-oriented use of water’s multiple functions, and coordinated management of water resources, water ecology, the water environment and water-disaster control.

Oil prices have weakened as a Middle East geopolitical premium unwound, regional exports resumed and physical prices slid, putting further pressure on futures. Donghai Futures said the US midterm outcome and Senate Majority Leader Schumer’s push to end the US–Iran conflict lifted expectations of a quick settlement, eroding an about $20/bl geopolitical premium. Analysts caution tail risk remains: Iranian exports are still significantly constrained and diplomatic signals merit monitoring; if talks fail, low prices and freight could spur purchases and drive prices back up. Another futures researcher added that the price drop does not yet indicate a structural reversal—geopolitical easing could be reversed and low product inventories mean restocking should provide floor support. Overall, scope for further downside is limited.