Gulf Oil Leak Contained

A tightly fitted cap was successfully keeping oil from gushing into the Gulf of Mexico for the first time in three months, BP said Thursday.

The victory - long awaited by weary residents along the coast - is the most significant milestone yet in BP's effort to control one of the worst environmental disasters in U.S. history.

Kent Wells, a BP PLC vice president, said at a news briefing that oil stopped flowing into the water at 2:25 p.m. CDT after engineers gradually dialed down the amount of crude escaping through the last of three valves in the 75-ton cap.

A happy milestone for the Gulf of Mexico: BP says oil has stopped gushing into the water for the first time since its rig exploded 3 months ago. "It's too early to celebrate," said exec Doug Suttles, noting that the company has hours of testing to conduct before determining for sure that its new cap will hold. The announcement this afternoon came after company officials said all valves had been shut on the cap. BP vice president Kent Wells said at a news briefing that oil stopped flowing into the water at 2:25 pm.