BP’s shares up a second consecutive day despite growing estimates on size of Gulf oil spill

BP’s shares climb for a second day in a row

BP shares are climbing for a second straight day despite new estimates that the Gulf oil spill could be worse than previously forecast.

In morning trading Friday, BP’s shares rose $1.35, or 4.1 percent, to $34.13.

Some scientists believe the amount of oil spewing from the blown-out well in the Gulf of Mexico may have been twice as much as previously thought.

BP’s shares dropped 16 percent on Wednesday, the steepest decline since the rig responsible for the spill exploded on April 20. The price began climbing Thursday after the oil giant said it could deal with the cost of containing the spill. Sahers are still more than 7 percent below Monday’s close of $36.76.