Take Advantage of Soaring Uranium Prices with These 2 ETFs

Russia’s invasion of Ukraine disrupted the global uranium market. Uranium is an essential component for the operation of nuclear power plants. According to the Bank of America, uranium prices had climbed 50% as of April 13 to hit $63.60/pound and could soar further due to the bans on Russian imports by Western countries.

The sector should continue to thrive due to a combination of current demand from the world’s 445 already active nuclear reactors, which supply around 10% of global power, and the construction of additional reactors as demand for carbon-free electricity grows. Furthermore, on Tuesday, the Biden administration opened applications for a $6 billion program to help nuclear power plants that are struggling with rising costs.

Given this backdrop, we believe ETFs with significant exposure to uranium, Global X Uranium ETF ( URA – Get Rating ) and North Shorte Global Uranium Mining ETF ( URNM – Get Rating ), […]

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