A newly-formed tropical depression in the Atlantic Ocean has become Tropical Storm Lee and is expected to strengthen into a hurricane by Thursday as the season approaches its typical peak in early September.

Tropical Depression 13 formed Tuesday morning in the central tropical Atlantic, almost 1,000 miles west-southwest of the Cabo Verde Islands, according to the National Hurricane Center.

The depression strengthened into a tropical storm later Tuesday, the National Hurricane Center said in a 5 p.m. update. Lee is forecast to strengthen into a major hurricane by Friday before it reaches Category 4 strength by Saturday, the update said.

Tropical Storm Lee has winds of 45 mph with higher gusts and is moving west-northwest at 16 mph.

“Lee is forecast to become a major hurricane by this weekend and could bring impacts to the Leeward Islands by that time. While it is too soon to determine the location and magnitude of these possible impacts, interests in this area should monitor the progress of Lee and further updates to the forecast,” the hurricane center warned.

As the depression moves steadily west-northwest this week, it will enter conditions increasingly favorable for strengthening: Plenty of moisture, low wind shear and abnormally warm water stretch nearly the entire length of the potential cyclone’s projected path.