One niche area of the commodity market — uranium — has been a bright spot over the past month, with its performance outpacing even that of the broader energy sector. Uranium, used as fuel in nuclear power plants, is in the spotlight as countries scramble to wean themselves off Russian energy following the Ukraine war. Moscow has now indefinitely halted gas supplies to Europe and the Group of Seven economic powers have agreed on a plan to impose a price cap on Russian oil. As a result, nuclear power is looking more appealing to some — and exchange traded funds with a focus on uranium have surged in recent weeks. ETFs The Global X Uranium ETF rose around 10% in August, and on Tuesday alone it bounced over 5%. “Uranium is on a tear and one of the reasons is that, just look to Europe — there’s a concern […]
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