Tropical depression less likely in SE Caribbean: NHC

NEW YORK (Reuters) - A low-pressure system in the southeastern Caribbean Sea became a little less organized and the potential lessened for it to form into a tropical depression, the U.S. National Hurricane Center said in its 8 a.m. EDT (1200 GMT) advisory on Thursday.

The NHC, however, will continue to monitor the system for signs of development as it moves westward at 20 to 25 miles per hour.

The energy market has been watching this system since the NHC on Monday first forecast it could develop into a tropical depression.

Some weather models forecast the system will pass near Aruba, where an oil refinery is located. All models project the system will swirl westward across the Caribbean Sea and hit the Yucatan Peninsula in Mexico in about five days.

If it crosses the Yucatan it could disrupt the Cantarell Field in the Bay of Campeche, the biggest oil field in Mexico.

Energy traders watch for storms that could enter the Gulf of Mexico and threaten U.S. oil and gas production facilities.

Commodities traders also watch storms that could hit agriculture crops like citrus and cotton in Florida and other states along the Gulf Coast.

If the system manages to strengthen into a tropical storm, with winds of 39 to 73 mph, the NHC will name it Cristobal.

CENTRAL AMERICA TROPICAL WAVE