The hurricane season is picking up
The US NHC notes two systems that are coming together in the Atlantic. Both are likely to be factors for the market in the week ahead. A third is also beginning to form off the coast of Africa.
The storm in the caribbean has a 40% chance of becoming a tropical cyclone in the next 48 hours and 80% over the next 5 days, according to the NHC. Depending on how it interacts with the Yucatan peninsula beyond that, it could be a big problem for offshore oil and shipments in the gulf.
The system in the mid-Atlantic is 80% likely to be tropical storm by Monday. Its forecast track is still highly uncertain but it appears to be headed along a track that would take it to the Florida coast and possibly up the Atlantic coast afterwards.
