Tropical depression raises hurricane threat in Gulf

A tropical depression that could grow into a hurricane is forecast to strike the U.S. Gulf Coast late Sunday, potentially shutting down offshore oil and natural gas rigs and dealing another blow to citrus growers.

The system off the Nicaraguan coast is expected to strengthen into a tropical storm later Wednesday and reach hurricane strength with winds of 80 miles per hour Sunday as it nears the U.S. coastline between Louisiana and Florida, according to the U.S. National Hurricane Center in Miami. Storm warnings have been issued for Honduras and Nicaragua.

Thirteen storms have formed across the Atlantic so far this season, killing hundreds of people in the U.S., Mexico and the Caribbean and causing an estimated $300 billion in damage. In August, Hurricane Harvey temporarily shut down about 25 percent of oil and natural gas production in the Gulf and as much as 20 percent of U.S. refining capacity and a few weeks later Hurricane Irma devastated Florida citrus groves.

The storm “could affect portions of the northern Gulf Coast as a hurricane this weekend, with direct impacts from wind, storm surge, and heavy rainfall,” Eric Blake, a hurricane specialist at the center, wrote in a forecast analysis. “Residents along the Gulf Coast from Louisiana to Florida should monitor the progress of this system for the next several days.”

Orange juice futures rose as much as 2.5 percent to $1.5925 a pound on ICE Futures U.S. in New York. Florida is the world’s second-largest orange juice producer.