Uranium reaches its highest price in over a year

The price of uranium has been rising for the seventh consecutive week, reaching its highest level since April 2022. It costs $58.5 per pound currently. 

Some analysts point to the growing popularity of nuclear energy, but most highlight the increasing fear of new sanctions imposed on Russia, this time targeting nuclear fuel supplies. Recently, a ship loaded with uranium could not leave St. Petersburg due to a lack of proper insurance. This has only heightened investor concerns, which are immediately reflected in the stock market charts.

"In the coming years, the number of reactors could increase by as much as 50 percent, mainly due to new power plants in China and India," Paweł Majtkowski, an expert at eToro, noted.

(bizblog)