SRUUF - War in Ukraine to focus utilities on security of uranium supply - news roundup

Uranium headlines have taken a back seat, as war in Ukraine focused media attention on spiking oil prices, record European natural gas prices, and all-time-high thermal coal prices. Uranium investors have faced similar geopolitical and policy risks over the past two weeks, in addition to shifting supply / demand fundamentals:  Spot uranium prices cracked $50/lb, gaining ~17% in the past month. The Sprott Physical Uranium Trust (OTCPK:SRUUF) posted a near record day of physical purchases (1.4m lbs) and has acquired ~4.4m lbs since the Ukraine war began (~2% of annual global consumption). Kazakhstan produces ~40% of global uranium, and has largely steered clear of the conflict; however, Russia is by far the world's largest seller of enriched uranium, an issue that could pose challenges for domestic utilities, if uranium is included in recently announced energy import restrictions. European nations have made bold statements about energy independence; however, Germany has elected not

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War in Ukraine to focus utilities on security of uranium supply - news roundup