UPDATE 1-Storm Bonnie poses little threat to Gulf of Mexico

* Bonnie no longer seen re-strengthening

* Coastal tropical warnings all lifted

* No further threat posed to Gulf oil patch
(Updates with latest National Hurricane Center advisory)

MIAMI, July 24 (BestGrowthStock) – The remnants of Tropical Storm
Bonnie weakened further on Saturday and it was not expected to
gain strength as it moved through the U.S. oil patch in the
Gulf of Mexico, the U.S. National Hurricane Center said.

“Environmental conditions are not favorable for
strengthening and the depression will probably continue with 25
knots until it moves inland tonight,” the Miami-based hurricane
center said in its latest advisory.

“Because Bonnie is not expected to re-intensify ,,, all
coastal tropical storm warnings have been discontinued,” it
added.

The approach of the storm has hampered efforts by BP Plc
(BP.L: ) (BP.N: ) to permanently plug its leaking oil well in the
Gulf.

It also prompted oil and natural gas producers to evacuate
many offshore workers, shutting in nearly 30 percent of Gulf
oil production and about 10 percent of gas output.
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For full spill coverage http:/link.reuters.com/hed87k

Link to the NHC: http:/www.nhc.noaa.gov/

Link to storm tracking:

http:/www.reuters.com/subjects/hurricanes
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BP said on Saturday that a relief well rig and other
vessels dealing with the spill were preparing to return to the
site of the blown-out Macondo well, however, after moving out
due to the storm threat earlier.

The Gulf of Mexico is home to about 30 percent of U.S. oil
production, 11 percent of natural gas production and more than
43 percent of U.S. refinery capacity.

At 11 a.m. EDT (1500 GMT) the hurricane center said Bonnie,
with top sustained winds of barely 30 miles (48 km) per hour,
was centered about 165 miles (265 km) east-southeast of the
mouth of the Mississippi River.

It was on a track that would see it make landfall between
southeast Louisiana and Alabama sometime on Saturday night.

Bonnie was the second named storm of the Atlantic hurricane
season, which began on June 1 and runs through Nov. 30.

Forecasters say this year’s hurricane season is expected to
be especially active.

Investment Analysis

(Reporting by Tom Brown, editing by XXX)

UPDATE 1-Storm Bonnie poses little threat to Gulf of Mexico