Oil rises as Mideast tensions flare
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Looking ahead today
Monday
• BP will start removing the temporary cap from its Gulf well so crews can raise the failed blowout preventer from the seafloor.
Work Begins to Remove Oil Spill Cap, Recover Failed Safety Device
Oil giant BP, working in conjunction with the U.S. Coast Guard and Transocean, will today begin a multi-step process to finalize work on the mile-deep well that had been leaking oil and gas into the Gulf of Mexico for much of the summer.
First, workers will remove the capping stack that was used to stop the flow of oil from the blown-out well. Though no oil has been leaking into the Gulf since the cap was installed on July 15, the capping stack will still be reserved in case a leak appears elsewhere.
• The Commerce Department releases July data on personal income and spending.
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