Aban Offshore Ltd., Asia’s third- most-indebted oil rig provider, will be able to obtain cheaper U.S. and European financing following the easing of some sanctions on Iran, the Indian company’s biggest market.
The European Union’s highest court backed an EU asset freeze targeting Iranian energy equipment company, in rulings on appeals that predate last weekend’s accord with world powers on Iran’s nuclear program.
Israel and Saudi Arabia strongly opposed the recent agreement to limit Iran’s nuclear program, in part because they fear it will remake the Middle East to their detriment. It is up to Iran to prove them wrong, and that can start in Syria.
The agreement to halt some aspects of Iran’s nuclear program in exchange for temporary relief from international sanctions is being hailed as a breakthrough in U.S.-Iranian relations, a detente after decades of animosity.
Crude volatility fell on speculation that the accord world powers reached with Iran may reduce Middle East tensions, lessening price swings, and as traders closed positions before the U.S. Thanksgiving holiday.
Israeli-Palestinian peace talks may suffer collateral damage from the accord world powers reached with Iran if Israeli Prime Minister Benjamin Netanyahu persists in linking his two biggest diplomatic challenges.