BP: No Oil Leaking into Gulf of Mexico as Cap Holds, But Are Pressure Levels a Cause for Concern?

July 15, 2010— -- BP's new cap is still holding back the oil from spilling into the Gulf of Mexico, over 24 hours since the company first clamped the cap down and began the painstaking process of testing the new device.

Pressures in the well are continuing to rise, National Incident Cmdr. Thad Allen said today, signaling that the cap seems to be working and there are no other leaks in the well. This evening, the pressure stood at 6,700 pounds per square inch, lower than officials would like to see but not a cause for immediate concern.

Watch 'World News' for more coverage of the BP oil spill.

For days, BP has said that a pressure reading of 8,000 to 9,000 psi would be ideal, while anything below 6,000 psi would be a problem.

"Between those is where detailed analysis" must take place, said BP executive Kent Wells in a technical briefing this morning.

A squadron of undersea robots is scanning the Gulf floor, looking for traces of new oil leaks, though Allen said the procedure could be halted as early as this evening.

Today, President Obama urged caution against celebrating too soon.

"I think it's important we don't get ahead of ourselves here," Obama said in the Rose Garden this morning. "One of the problems with having this camera down there is -- is that when the oil stops gushing, everybody feels like we're done. And we're not."

Given that pressure levels have not reached optimum levels, some fear that that oil could have breeched the well's cement casing, bleeding into the Gulf's bedrock. Others think that with so much oil already discharged into the Gulf, the well may have started to run dry, reducing pressure in the pipe.

If the pressure fails to rise to desired levels, BP may reattach several hoses and simply funnel the oil to ships on the surface, effectively controlling the leak.