A federal judge ruled Thursday that BP PLC is liable for spilling just over 3 million barrels of crude into the Gulf of Mexico in the 2010 Deepwater Horizon disaster, 24% less than federal prosecutors had claimed. The ruling means that BP faces a maximum penalty of $13.7 billion under the U.S. Clean Water Act, down from the $18 billion sought by the Justice Department. The decision by Judge Carl Barbier surprised analysts following the case, coming days before BP is set to appear in his court for a related trial on how much it should pay for each barrel spilled. That tranche of the complex case, which begins on Tuesday, will determine the total fine under the Clean Water Act. Thursday’s decision narrows the range of penalties BP could face, which could make a settlement […]