MIAMI (Reuters) - An area of low pressure moving over the Florida Panhandle was expected to track southward into the northern Gulf of Mexico by early Monday and had a 50 percent chance of becoming a tropical cyclone in the next 48 hours, the National Hurricane Center said on Sunday.
The low pressure area was the remnant of Tropical Depression Five which dissipated on Wednesday in the Gulf.
The U.S. Gulf of Mexico is home to about 30 percent of U.S. oil production, 11 percent of natural gas production, and more than 43 percent of U.S. refinery capacity.
