December 11, 2007 / 1:17 PM / 11 years ago

Subtropical Storm Olga to weaken to depression

NEW YORK, Dec 11 (Reuters) - Subtropical storm Olga will weaken into a depression over the next 24 hours after moving inland over the Dominican Republic later Tuesday, the U.S. National Hurricane Center predicted in a report.

After leaving Haiti Wednesday morning, the storm will remain a depression with wind speeds under 39 miles per hour and move west across the northern Caribbean toward Belize and the Yucatan Peninsula in Mexico over the next five days, the NHC forecast.

Most of the major weather models confirmed the NHC forecast track. On that track, the storm will not enter the Gulf of Mexico and will not threaten the U.S. oil and natural gas production facilities in the northern Gulf.

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

Commodities traders also watch storms that could affect agriculture crops in Florida and others states on the Gulf Coast

Olga was located about 155 miles east of Santo Domingo in the Dominican Republic, at about 7 a.m. EST.

The storm was moving westward at nearly 15 mph, packing winds near 40 mph.

The NHC will issue another advisory at 11 a.m. (Reporting by Scott DiSavino; Editing by John Picinich)

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