(CNN)This year's busy tropical season continues as more activity ramps up in the Atlantic.
Tropical Depression Seventeen intensified into Tropical Storm Rose Sunday afternoon, about 370 miles west of the Cabo Verde Islands, says the National Hurricane Center.
The other active storm currently in the Atlantic basin is Tropical Storm Peter, which is the 16th storm of the 2021 Atlantic hurricane season. Peter also strengthened into a storm Sunday morning from a tropical depression.
Located hundreds of miles northeast of the Leeward Islands, Peter had sustained winds of 45 mph Sunday afternoon.
Hurricane hunters observed the center of the storm to be farther southwest than in previous National Hurricane Center (NHC) advisories, but its impacts to land are still expected to be minimal as it remains in the open waters of the Atlantic.
"Some strengthening is forecast during the next 24 hours or so as Peter moves over warmer sea-surface temperatures," the National Hurricane Center said.
Currently no tropical watches or warnings are in effect, but the storm could bring flood threats to parts of Puerto Rico, the Virgin Islands, and the Northern Leeward Islands early this week.
"Rainfall around the southern periphery of Tropical Storm Peter may lead to areas of urban and small stream flooding from late Sunday into Tuesday," according to the NHC.
By the middle of the week, the storm is expected to experience slow weakening as it enters a more unfavorable environment.
The current forecast track for Peter indicates a northward turn around Wednesday, minimizing the storm's impact on land as continues to meander across the Atlantic by the end of the week.
Some coastal areas of the eastern US could have rip currents this week due to waves propagating hundreds of miles away from the storm.
Tropical Storm Rose forms in the Atlantic
Trailing behind Peter across the Atlantic is Tropical Storm Rose. It is the season's 17th named storm.
This makes 2021 the third year to have reached at least 17 named storms by this point of the season in satellite era (1966 and beyond), according to Dr. Philip Klotzbach, a meteorologist at Colorado State University. There are only four names left on the list for the Atlantic basin: Sam, Teresa, Victor and Wanda.
Rose is not a threat to land and will remain over the open waters of the Atlantic Ocean. The storm is expected to weaken back to a tropical depression Thursday.