Tropical Storm Rafael forms in the Caribbean, expected to impact Gulf Coast businesses
Tropical Storm Rafael has formed in the Caribbean and is expected to strengthen into a hurricane near the Cayman Islands. It will likely weaken before making landfall near New Orleans, with heavy rain anticipated in Jamaica. The storm's path could disrupt offshore oil and gas production, affecting major companies like Exxon Mobil and Chevron. Refining operations may also be impacted, influencing companies such as Marathon Petroleum and Valero Energy. Increased demand for repairs could benefit construction firms like Vulcan Materials. Additionally, the storm may drive homeowners to purchase generators from companies like Generac Holdings.