Market Chatter: BP Shares Edge Lower as Gulf Coast Senators Lobby for Fines

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Reuters is reporting that Senators from the U.S. Gulf Coast urged President Barack Obama on Friday to ensure that any legal settlement for the 2010 Gulf of Mexico oil spill does not undermine a recently passed law that would funnel billions of dollars worth of fines to their states.

The U.S. Justice Department and BP Plc ( BP ) have discussed a potential settlement for damages caused both to Gulf waters and the coastline, which could be worth billions of dollars to states still trying to recover from the worst offshore oil spill in U.S. history.

BP shares are down 0.3% to $42.05 in pre-market trade.



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This article appears in: Investing , Commodities

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