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Stock impact report

Giant Oil Trader Begins Physical Trading In Uranium [Yahoo! Finance]

Uranium Energy Corp. (UEC) 
NASDAQ:AMEX Investor Relations: uraniumenergy.com/invest
Company Research Source: Yahoo! Finance
Giant oil and gas trader Mercuria reportedly has begun physical trading in uranium, becoming the first major commodity company to do so, according to Reuters. If officially confirmed, which it has not been, it will mean that Mercuria joins the ranks of Wall Street banker Citibank, Natixis (part of French financial group BPCE) and other deep-pocketed traders who are betting on a nuclear energy boom driven by surging global electricity demand. The World Nuclear Association has predicted that demand for nuclear fuel will double by 2040 as technology companies scramble for energy to support AI and governments pursue zero-carbon targets. Switzerland-based Mercuria has been increasingly investing in the metals business in recent years, using profits it raked in from high oil prices a couple of years ago. The uranium market is still small compared to commodities like oil, natural gas, copper, and aluminium, which are the forté of Mercuria, Trafigura, Glencore, and other large commodity Show less Read more
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