A tropical depression is threatening to become a category one storm later today, according to the National Hurricane Center (NHC).

The depression, which will be known as Ernesto should it turn into a storm, is headed towards the Gulf of Mexico, where oil platforms produce between 25 and 30% of US crude oil.

The NHC said the depression, currently north of Venezuela, was on course to hit the Gulf of Mexico on Wednesday at the latest.

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