Oil prices took a hit on Tuesday as investors reacted to underwhelming Chinese stimulus measures and lingering oversupply worries, further heightened by a stronger US dollar; this scenario leaves the market eagerly watching for any moves from OPEC+ towards adjusting supply.

Shifting focus to diplomatic matters, France expressed strong disapproval over an unauthorized Israeli raid in Jerusalem, sparking greater diplomatic tension between the two countries, already strained over France's resistance to supplying offensive weaponry to Israel.

Meanwhile, Saudi Arabia made waves at the COP29 in Baku with the launch of its carbon exchange platform aimed at bolstering global climate initiatives, underscoring the nation’s dedication to driving sustainable projects, particularly within developing regions by 2030.

On the housing front, Saudi Arabia announced its ambitious plan of constructing 115,000 homes each year to achieve a 70% homeownership rate by 2030, collaborating with private and international partners to boost housing accessibility and economic growth, especially in urban hotspots like Riyadh.

In aviation news, the Bahrain International Airshow 2024 promises to be a key event for aerospace innovation and global partnerships, offering a platform for major industry players to showcase advancements in sustainability and technology at Sakhir Air Base mid-November.

Rounding off with cultural highlights, the Al-Qafila event in Makkah’s historic Hira Cultural District is underway, celebrating the rich heritage of Saudi Arabia’s desert traditions, inviting global visitors to experience a mélange of cultural displays and heritage-focused exhibitions.