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The Wiregazette

Author

Thomas Whitaker

Commodities & Energy Correspondent. Reports on oil, natural gas, metals, and the supply-chain dynamics that move commodity prices. He connects production, inventory, and geopolitical risk to what traders and businesses pay at the margin. Energy transition and traditional fuels both sit on his beat.

Articles by Thomas Whitaker

Uniformed guards standing at Anıtkabir in Ankara under a clear blue sky.
Commodities4 min read

Houthi Seizure of Red Sea Islands Pushes Brent Above $100, Threatens Global Energy Corridors

Houthi forces have seized the Greater and Lesser Hanish islands near the Bab el-Mandeb strait and damaged Saudi Arabia's east-west pipeline, pushing Brent crude above $100 a barrel and rerouting oil flows. The advance has displaced over 100,000 people and prompted a US-led security conference as Riyadh faces a stark choice between negotiations and a return to full-scale war.

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Thomas Whitaker

Captivating night view of Tehran's skyline featuring Milad Tower and a full moon.
Commodities6 min read

Six Months Into Iran War, Gulf Energy Disruption Keeps Oil Prices Elevated as Market Risk Persists

Brent crude remains 22% above pre-war levels at $88 a barrel after peaking near $120, and the Strait of Hormuz is still largely closed to commercial traffic. US oil companies have posted windfall profits but face mounting asset risks from 172 attacks on Gulf energy infrastructure — a precarious balance that keeps the region a key risk for global markets.

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Thomas Whitaker

Aerial shot of industrial storage tanks near a waterfront landscape, showcasing industrial infrastructure.
Commodities5 min read

US-Venezuela Oil Deal Reshapes Global Supply; Market Awaits First Test Monday

President Donald Trump’s Friday announcement of American majority control over 65 billion barrels of Venezuelan oil reserves came after markets closed, setting up Monday as the first opportunity for investors to price the deal. The 25-year agreement targets 1.5 million barrels per day of new production but faces legal, infrastructure and timing hurdles that analysts say will delay any impact on pump prices.

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Thomas Whitaker

Detailed close-up of a US fifty dollar bill, emphasizing currency design and wealth theme.
Commodities5 min read

Trump Deal Grants US Majority Control of 65 Billion Barrels of Venezuelan Oil Reserves

The U.S. has secured a 55% stake in 17 strategic Venezuelan oilfields holding an estimated 65 billion barrels of proven reserves, with President Donald Trump pledging to use the crude to refill the Strategic Petroleum Reserve. The 25-year agreement targets production of 1.5 million barrels per day but faces legal, infrastructure and timing hurdles.

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Thomas Whitaker

Close-up of bitcoins on a shimmering gold background, symbolizing digital wealth and investment.
Commodities6 min read

Bitcoin Reclaims $80,000 as Treasury Bond Plan Fuels ‘Debasement Trade’ Rally

Bitcoin surged past $80,000 for the first time since mid-May, posting its largest weekly gain in over three years, after Treasury Secretary Scott Bessent’s expanded bond buyback program weakened the dollar and revived demand for scarce assets. The move was amplified by a record short squeeze and heavy ETF inflows, though analysts warn the rally’s sustainability hinges on Federal Reserve signals this week.

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Thomas Whitaker

Captivating view of the historic Khaju Bridge reflecting in water during twilight in Isfahan, Iran.
Commodities4 min read

US Strikes Bridges in Iran as Tehran Hits Kuwait Desalination Plant, Escalating Conflict That Threatens Gulf Energy Supply Lines

The United States and Iran expanded their target sets to include infrastructure on Friday, with Washington striking bridges in southern Iran and Tehran responding by hitting a power and desalination plant in Kuwait, as the collapse of last week’s ceasefire re-ignites fears over energy flows from the Gulf.

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Thomas Whitaker