An area of low pressure being monitored in the western Gulf developed into a tropical depression Saturday that forecasters said could strengthen into a tropical storm by the time it makes landfall in Mexico.

Tropical Depression Two formed in the Gulf waters off Mexico on Saturday, according to the National Hurricane Center. As of 5 p.m., the newly formed storm was located about 240 miles east-southeast of Tuxpan, Mexico, and 139 miles east of Veracruz, Mexico, with maximum sustained winds of 30 mph moving west-northwest at 7 mph.

Tropical Depression Two formed in the Gulf waters off Mexico on Saturday, according to the  National Hurricane Center.