BP Closes at Lowest Since 1997 on Hurricane Concerns
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BP Plc closed at its lowest since February 1997 in London on concern the company’s oil spill cleanup operation in the Gulf of Mexico may be disrupted by bad weather.
BP fell 4.4 percent to 334.20 pence today after dropping to its lowest since November 1996 in intraday trading. It has declined 49 percent since the April 20 accident on the Deepwater Horizon rig that killed 11 workers and started the leak, erasing 60 billion pounds ($89 billion) off the company’s market value.