UPDATE: Tropical Storm Colin forms in the gulf

UPDATE: Tropical Storm Colin has formed in the Gulf of Mexico, according to the National Weather Service's latest update.

Earlier: A storm system in the Gulf of Mexico has developed into a tropical depression, prompting a tropical storm warning for parts of Sarasota and Manatee counties.

The National Weather Service at 11:43 a.m. issued the warning for several counties along the Gulf Coast, which indicates wind conditions from 39 mph to 57 mph can be expected at some point over the next 36 hours. The agency also expects a storm surge of up to 2 feet, and up to 8 inches of rainfall.

The storm, which is the third tropical depression of the year, developed at the southern end of the gulf around 11 a.m. this morning, and is currently moving northeast. The NWS will issue another update at 5 p.m.