LONDON ( TheStreet) -- BP ( BP) 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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