Drone Attacks And Invasion Fears Send Oil Prices Soaring

The geopolitical risk premium is soaring as fears of Russia invading Ukraine combine with recent reports of a Houthi drone attack on the UAE.Chart of the Week- Colombia’s presidential front-runner Gustavo Petro is likely to nudge Colombia away from hydrocarbon production, currently accounting for half of the Latin American country’s export revenues. - Petro pledged to replace oil and gas output with a knowledge-based, tourism-driven economy, arguing that there would be roughly 12 years to finish production at currently producing…