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

By Staff,

Shutterstock photo

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: BP

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by