Tropical Storm Paloma Poses No Threat to Energy Interests has reported that Tropical Storm Paloma, the 16th named storm in the Atlantic Basin this year, was named early Thursday morning. Paloma is located in the western Caribbean Sea near the border of Honduras and Nicaragua. Tropical Storm Paloma is expected to intensify over the next 24-48 hours as it moves slowly to the northwest on Thursday. Heavy rain will continue across eastern Honduras and Nicaragua during that time, resulting in flooding and mudslides.

The storm will turn to the north and eventually to the northeast on Friday. Paloma could become a hurricane by the weekend as it passes through the Cayman Islands. The storm is then forecast to weaken slightly as it passes over Cuba and emerges in the western Atlantic early next week.

"Paloma's path will take it well away from refineries in the Gulf and in Saint Croix," Expert Senior Meteorologist Dale Mohler said. "It could be very bad news for the people of Cuba, but it won't impact energy interests."