As of 11 a.m. ET, the storm is located about 100 miles west-northwest of the Cabo Verde Islands, with maximum sustained winds of 40 mph as it moves west at 16 mph.
Rene is forecast to reach hurricane strength by tomorrow afternoon, but forecasts suggested the storm will turn northwards and away from the island over the next few days.
Forecasters said gradual development will be possible over the next few days "and it could become a tropical depression while it moves slowly westward to west-northwestward".
On the official NHC forecast track, the center of the cyclone will pass near or over the Cabo Verde Islands tonight and early Tuesday.
It could bring tropical storm conditions to the Cabo Verde Islands (near Africa's west coast) later today, forecasters said, and a tropical storm watch is in effect there.
But first a look at the two named storms.
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"Rene may become a hurricane, but it may also succumb to the wind shear that may affect Paulette, and may also track over the cooler water left behind from Paulette, as well".
Paulette now has maximum sustained winds of 65 miles per hour, with modest strengthening expected over the next few days.
These numbers mean that the Greek alphabet will have to be utilized for tropical storm names, which was only done in one other season: 2005.
Despite the jam-packed season, most storms, save for Laura, have been short-lived and weak, with hurricane activity as a whole close to average, based on the amount of accumulated energy.
The Atlantic hurricane season ends on November 30.
Weather models indicate an increasing likelihood that the tropical wave, which has yet to emerge over the ocean, will develop into a tropical storm or hurricane.