BP shares higher despite US spill report

Shares in BP opened higher on Thursday despite a US presidential commission criticising the oil company's contractors and regulators as well as BP for the Gulf of Mexico oil spill.

The explosion at the Deepwater Horizon rig in April killed 11 men and led to the largest ever offshore oil leak.

Despite the findings, BP shares rose above 500 pence for the first time since May last year.

BBC business correspondent Maryam Moshiri spoke to Nick McGregor, an oil analyst with stockbrokers Redmayne Bentley.