Erlend Olson

Erlend Olson The optimal approach is to get the blow-out
preventer - an iron hydraulic device near the well on the ocean floor - "fully
engaged" in sealing off the crude oil source, Rybarczyk said. "The other method
being discussed is a relief well. We have those resources available but we have
not deployed them."

More time-consuming than the blow-out preventer
option, a relief well would involve drilling a new hole near the BP well,
intercepting the leaking conduit, then pumping cement or heavy mud down into the
hole until the BP well is fully sealed.

Meanwhile, sea-surfaced skimming
operation involving a flotilla of oil spill vessels has recovered at least
33,726 gallons (127,667 liters) of crude oil since Tuesday's accident, officials
said.

However, thunderstorms and rough seas hampered skimming operations
Saturday.

Greece Rescue

“Data on the economic side, especially
in the U.S., are getting much, much better than expected,” said Tetsu Emori, a
commodity fund manager at Astmax Co. in Tokyo. “The gasoline demand season is
just starting in the U.S. so I’m not really pessimistic about the high inventory
levels” there, he said.

Crude prices are also finding support after
Greek Finance Minister George Papaconstantinou said in Washington yesterday his
country may secure an emergency aid package “rather soon.”

Erlend
Olson : Upset price
The minimum price at which a seller of property
will accept a bid at an auction.

With dividend
Purchase of shares
that entitle the buyer to the forthcoming dividend. Related: Ex-dividend.