BP successfully stopped the gushing oil well from gushing just now, choking off the flow of oil into the Gulf of Mexico for the first time since April. About goddamn time, people. This is all part of an on-going test of the new "capping stack" that was put in place over the last few days, and which has been slowing the flow of oil one valve at a time, so as to avoid causing another leak busting out elsewhere.
The test may last up to 48 hours, during which time BP will be testing the pressure on the cap to see if oil may be leaking out further down the well. [BBC, AP - second link only discusses the "dialing down" of the oil flow, which started a couple hours ago]