Updated on
Summary
British Petroleum says it has temporarily stopped oil flowing into the Gulf of Mexico from its leaking well. It is the first time the flow has stopped since an explosion on the Deepwater Horizon rig on 20 April.The well has been sealed with a cap as part of a test of its integrity that could last up to 48 hours.US President Barack Obama said the development was a positive sign but noted that BP was still in the testing phase.BP shares rose in New York trading on Thursday after the flow was stopped, having already performed well over the day.But BP is stressing that even if no oil escapes for 48 hours, that will not mean the flow of oil and gas has been stopped permanently.BP chief operating officer Doug Suttles emphasised that there was no reason for celebration yet, particularly for those in areas already damaged by oil.
