(Reuters) – Tropical storm Francine has formed over the Louisiana coast and is expected to gain hurricane strength on Wednesday, the U.S. National Hurricane Center (NHC) said.
The storm was about 480 miles (770 km) south south-west of Cameron, Louisiana, packing maximum sustained winds of 50 mph (80 kph), the Miami-based forecaster said on Monday.
Investors and traders should keep a close eye on the developments of Tropical Storm Francine as it has the potential to impact the energy markets and possibly disrupt oil and gas production in the Gulf of Mexico region. The formation of a hurricane could lead to supply disruptions and affect prices, presenting both risks and opportunities for market participants. Stay informed and be prepared for potential market volatility in the coming days.