Oil prices fall as U.S. storm threat eases, but Iran sanctions loom

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"The remnants of Gordon will spread areas of heavy rain into southeast Arkansas Wednesday night", forecasters Chuck Rickard and John Lewis said in a statement.

Here is the latest forecast track and timing for Gordon.

The long answer? It's going to be cloudy, muggy and rainy for the rest of the week, but the city's highest chance of rain will be on Friday - when the storm eventually makes its way inland. Florence has become a hurricane in the Eastern Atlantic, and this system is expected to turn northwest into the central Atlantic over the coming days.

Florence became a hurricane as Tropical Storm Gordon is chugging along toward the northern Gulf Coast and away from the Florida peninsula Tuedsay evening.

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Coastal residents from Florida to Louisiana hustled to prepare for a deluge as Tropical Storm Gordon grew stronger on a path to hit the coast as a hurricane Tuesday night (local time).

Meanwhile, Florence has strengthened into the third hurricane but continues to linger far out in the Atlantic, with maximum sustained winds of 75 miles per hour as it slowly moves west-northwest and not affecting land. This area includes the Florida Panhandle, southwest Alabama, southern and central MS, southeastern and northeastern Louisiana, and southern Arkansas.

"Gordon is expected to bring life-threatening storm surge and hurricane conditions to portions of the central Gulf Coast where a Storm Surge Warning and Hurricane Warning are in effect", the center says. The storm's predicted track had shifted slightly east, meaning Louisiana is now just outside the area under the hurricane warning. Built after Hurricane Katrina, the home is made to withstand a 150 mile-an-hour wind, she said. While that storm has already caused evacuations and oil prices to surge, forecasters are keeping an eye on what could come next.

The storm was gaining strength and was expected to become a hurricane as it comes ashore late on Tuesday near the border between Louisiana and MS, and drop as much as 8 inches (20 cm) of rain in some areas of the US South still reeling from hurricanes a year ago.

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LINK: You can track the storms at MyFoxHurricane.

Murphy's bar opened a year ago for the first time since Hurricane Katrina; members of his family have owned it since 1982.

The storm left many businesses on Florida's Gulf Coast feeling shortchanged by the holiday weekend. In this scenario, the storm could be forced west and move toward the eastern US coast.

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