Rocketing costs could reach a staggering $10 million a day for BP as it tries to stem the oil leak in the Gulf of Mexico.
Costs are mounting after the company has already spent $350 million.
BP shares fell by 1 per cent as European oil sector shares rose 2.5 per cent.
The oil giant is considering its next move after a short term fix has failed to stop the flow.
The spill could become a huge economic and ecological disaster threatening the tourist beaches, wildlife refuges and fishing grounds of four states. There are concerns the oil will spread further.
Analysts have said that at least 5,000 barrels of oil a day have been leaking from a ruptured well.
The uncontrolled spill which could become the worst in US history began when the Deepwater Horizon rig exploded on 20th April.
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