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BP Share Prices Rises After $7.8 Billion Oil Spill Settlement

HeadlineMar 05, 2012

In business news, shares of the oil giant BP are rising after the company reached a $7.8 billion settlement with businesses and individuals over the 2010 Deepwater Horizon oil rig disaster in the Gulf of Mexico. The value of BP stock has increased by 3 percent since February 1, and analysts expect it to rise by another 5 percent this week. The settlement is significantly smaller than the $14 billion some had predicted.

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