U.S. says,Oil leak OK But BP must monitor for leaks for 24 hours

The cap was used to bottle up the oil last week, engineers have been watching underwater cameras and monitoring pressure and seismic readings to see whether the well would hold or spring a new leak.Oil and gas started leaking late Sunday, but "we do not believe it is consequential at this time," said retired Coast Guard Adm.At an afternoon briefing in Washington, Allen said BP could keep the cap closed at least another 24 hours so long as the company remains alert for leaks.

BP Says Oil Has Stopped Leaking

BP has started testing the new cap on the leaking well in the Gulf of Mexico. Also, in Washington, the EPA is discussing the use of chemicals to break up the spilling oil.In latest update, BP said the well cap continues to hold more than 15 hours after being sealed. But the ruptured well isn't dead yet, prompting a cautious tone from President Barack Obama in his remarks on the spill.