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BP shares turn higher on reported escrow deal


    NEW YORK (Reuters) - U.S-listed shares of BP PLC shares erased losses and turned higher on Wednesday.

    The New York Times reported the oil company agreed to U.S. President Barack Obama's demand that the company place about $20 billion in escrow to pay claims resulting from the Gulf of Mexico oil spill.

    The stock rose 0.7 percent to $31.67.

    (Reporting by Angela Moon; editing by Jeffrey Benkoe)