President Obama
Media playback is unsupported on your device
Video

Obama: Oil cap 'good news' but work still to do

US President Barack Obama has given a cautious welcome to the "good news" that BP has halted the flow of oil into the Gulf of Mexico.

But President Obama went on to say that a permanent solution - a relief well - still needed to be put in place and that BP would have to pick up the bill for the clear-up.

READ MORE: Oil stoppage going well, BP says