Why are ASX uranium shares in focus today?

All eyes are on ASX uranium shares today as the commodity’s spot price continues to rise amid a new international deal for nuclear-powered submarines. The price of uranium – a commodity needed to fuel nuclear reactors – has been soaring in recent weeks. According to data from CNBC , the price of uranium has gained more than 60% since this time last month.

As a result, ASX uranium stocks including Deep Yellow Limited (ASX: DYL) , Paladin Energy Ltd (ASX: PDN) , and Energy Resources of Australia Limited (ASX: ERA) , are on watch today. What’s causing the price of uranium to surge?

The price of uranium has been soaring in recent weeks, driving up the share prices of many ASX uranium shares.

S&P Global Platts reports the price of uranium is being driven higher by funds, investors, and producers increasing their holdings in the commodity.The publication notes some […]

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