Forecasters expect Tropical Storm Dolly to grow into a hurricane before hitting land near the Mexican border later this week.
The storm, with sustained winds of nearly 50 mph, emerged from the Yucatan Peninsula over the warm waters of the Gulf of Mexico. A hurricane watch was issued for the southern Texas coast, the U.S. National Hurricane Center said. Dolly caused rain in Cancun and other resorts in Mexico's Yucatan Peninsula, but no major damage was reported.
Dolly could affect oil production from the Gulf of Mexico, which has increased crude futures, although dealers said Dolly appeared likely to pass south and west of the biggest concentration of U.S. platforms.
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