Second Tropical Storm Could Hit

The second tropical storm of the season could be gathering force in the Atlantic causing concern for offshore oil and gas companies.

The US National Hurricane Centre said a tropical wave in the central Atlantic Ocean could become the sixth tropical depression of the season by saturday, according to Reuters.

Oil prices steadied last night as analysts watched the situation closely.

Earlier this month, Hurricane Dean devastated Jamaica and parts of Mexico but by-passed most offshore rigs in the Gulf of Mexico.

Reported by staff writer