The Globe and Mail reports in its Wednesday edition that just a week into the year and we are already digesting geopolitical events that were difficult to predict. The Globe's David Berman writes that we knew President Donald Trump had Nicolas Maduro in his sights, accusing him of shipping illegal drugs into the United States. Nonetheless, what occurred on Jan. 3 came as a surprise. On Monday, precious metals seemed to benefit from the rising global uncertainty. Gold jumped 3 per cent on Monday. Silver gained more than 7 per cent. Oil prices rose by less than 2 per cent for West Texas Intermediate but reversed gains on Tuesday, highlighting market uncertainty. Investors are weighing Venezuela's vast oil reserves against the immediate political crisis and the potential for increased output amid a global oil glut. Citigroup believes that Venezuelan oil will continue to exit the global market, which is bullish, until a deal is reached between the U.S. and Venezuela's leadership. However, Scotiabank analysts believe that the removal of Mr. Maduro could mean that OPEC loses even more sway as a cartel and that events could lead the way toward lower prices for heavy oil over the longer term and weigh on Canadian producers.