News - Local
BP's Shares Climb For a Second Day in a Row
Posted: Jun 11, 2010 1:11 PM by Chris Welty
Updated: Jun 11, 2010 1:10 PM
BP shares are climbing for a second straight day despite new
estimates that the Gulf oil spill could be worse than previously
forecast.
In morning trading Friday, BP's shares rose $1.35, or 4.1
percent, to $34.13.
Some scientists believe the amount of oil spewing from the
blown-out well in the Gulf of Mexico may have been twice as much as
previously thought.
BP's shares dropped 16 percent on Wednesday, the steepest
decline since the rig responsible for the spill exploded on April
20. The price began climbing Thursday after the oil giant said it
could deal with the cost of containing the spill. Sahers are still
more than 7 percent below Monday's close of $36.76.
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