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The National Hurricane Center says Earl has strengthened into a Category 4 hurricane This doesnt seem good!!!  The  winds are lashing out with speed nearly 135 mph (215 kph) as it moves away from the Virgin Islands.

Earl is on a path that could brush the coast of the U.S. later in the week, though it’s too early to tell exactly where it will go.

For now, tropical storm warnings and watches are in effect for the U.S. and British Virgin Islands, the Turks and Caicos Islands and the southeastern Bahamas, among other places. Puerto Rico is also bracing for heavy rains and high seas.

Earl is about 110 miles (180 kph) northeast of San Juan and moving west northwest at 15 mph (24 kph.)

Tropical Storm Fiona is right behind it, east of the Leeward Islands.

Hurricane Alex 2010 : Tropical storm Alex in the Gulf is gradually moving away from the US main land towards the Mexican Yucatan Peninsula, and reports say that forecasters have predicted that the storm may turn into a hurricane by today or tomorrow.

Even though there is a threat regarding the hurricane formation, there is some good news for the oil siphoning efforts in the Gulf of Mexico, as the storm is reportedly away from their path.

The US National Hurricane center stated that the intensity of the storm to transform into a hurricane is likely to take place within the next 48 hours. The Mexican government on the other hand, has closed down its chief ports Don Bocas and Cayo Arcas, due to the Hurricane Alex threat.

In the country of El Salvador, the rain that poured before the hurricane has made the rivers swell, and has resulted in two men being been swept away and declared dead. Forecasts had predicted that the rain before Alex’s arrival would be around 4 to 8 inches, but in most of the isolated places and mountainous regions, the rain has been measured to be around 15 inches. Later in the day, forecasters have warned of flash flooding in the area.

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Storm Could Form in Atlantic

A low-pressure system about 1,425 miles east-southeast of the eastern Caribbean Islands in the central Atlantic Ocean had a 60 percent chance of developing into a tropical cyclone over the next day or two.

The U.S. National Hurricane Center said in a report the system was moving west-northwest at about 15 miles per hour.

Most weather models project the system will reach the eastern Caribbean islands over the next five days.

Energy traders keep a close eye on storms that could enter the Gulf of Mexico and disrupt offshore U.S. oil and natural gas production or refinery operations along the coast, as well as the cleanup of the Gulf oil spill.

Commodities traders likewise watch storms that could damage agriculture crops such as citrus and cotton in Florida and other states along the coast to Texas.

Pricing of insurance-linked securities, which transfer insurance risks associated with natural disasters to capital markets investors and can be used to hedge other weather risk exposures, can also be affected by the path of a storm.

Hurricane Fred

Looks like the Hurricane Fred that formed in the Atlantic has now strengthen to a Category 3 Storm. Hurricane Fred became a fierce Category 3 storm in the Atlantic Ocean Wednesday but was still far from land, the National Hurricane Center said.

Earlier, Fred quickly strengthened to a Category 2. Fred’s maximum sustained winds have increased to near 105 mph early Wednesday.

The National Hurricane Center in Miami said Fred is expected to start weakening Thursday.

Fred is centered about 500 miles west-southwest of the southernmost Cape Verde Islands and moving west-northwest near 13 mph.

Meanwhile, Tropical Storm Linda is drifting slowly far out over the Pacific with maximum sustained winds near 65 mph.