BP Still Rallying on Oil Leak Fund Deal - TheStreet

BP Still Rallying on Oil Leak Fund Deal

BP shares were higher Friday, two days after BP said it would establish a $20 billion fund to cover damage from the oil spill in the Gulf of Mexico and halt dividends for the rest of the year.
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LONDON (

TheStreet

) --

BP

(BP) - Get Report

shares were higher Friday, a day after the

oil giant's CEO was grilled on Capitol Hill

and two days after BP said it would establish a $20 billion fund to cover damage from the oil spill in the Gulf of Mexico and halt dividends for the rest of the year.

BP shares were higher by more than 3% Friday in trading on the London Stock Exchange.

The stock rose 6.7% on Thursday, a day after BP executives met with President Barack Obama and agreed to set up the damage fund.

-- Reported by Joseph Woelfel in New York.

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