BP just announced it has sealed the leak on the Deepwater Horizon. For the first time in months there may be no oil leaking into the Gulf.
BP commenced the well integrity test at 3:25 PM and managed to close the cap quickly.
But the drama is NOT over. BP will now test the pressure in the closed well. If pressure readings are low, that could mean oil is leaking from the ocean floor — and BP will have to remove the cap to avoid causing an even bigger rupture.
BP says it will run the test for the next 48 hours. After that, who knows?
Even so, this continues a string of relatively positive news for BP. In very late trading, BP stock spiked for 8% gains on the day.
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