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World Energy Market
- Thread starter Bogeyman
- Start date
US energy sanctions on Iran collapsed.
Having lost Africa, French President Macron decided to look for uranium in Kazakhstan & Uzbekistan.
Macron was met at Astana by Kazakh Prime Minister Alikhan Smailov.
A key target of Macron's visit is uranium. The trip comes as geopolitical tensions grow with the EU's current major suppliers, Niger and Russia.
French nuclear power plants form the basis of the European economy. If the French cannot secure Uranium supplies for their nuclear power plants, they will be on their knees. This would bring about the end of the entire European economy.
By the way, I'm not 100% sure that they will find uranium. However, the fact that the French are rushing so much should be enough to ring alarm bells for the European economy.
@TR_123456 @Mis_TR_Like @Cabatli_TR @Test7 @Yasar @OPTIMUS @Zafer @Ryder @Afif @Nilgiri @Bürküt @MADDOG @Era_shield
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Does Türkiye has soft power on Kazakishtan enough to influence the France's this effort to get Uranium.If it does , how can we take advantage of their that despareteness.
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I was about to say the same as @Bürküt ,Kazakhistan.
Right now, it is necessary for us for France to provide that Uranium supply. Because the Turkish economy is completely dependent on the European economy. If they collapse, we collapse too. However, in a crisis or in case of war, the Kazakhs' or Uzbeks' embargo on France would definitely be a disaster that Europeans should take into account. This situation will definitely enable us to take the European economy even more into our hands. Azerbaijani gas was already critical for Europe. However, running around in our backyard for Uranium definitely makes them our slaves.
View attachment RussiaNuclearMarkets-Commentary_Charts-Table1.png
France no longer wants to make a new Uranium agreement (to enrich the mine) with Russia. They were expelled from Niger. I do not believe that they can survive without Uzbekistan and Kazakhstan. In recent years, Niger was not included in all these scenarios. Now they are inside too.
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That is where you are wrong,Azerbaijani gas is not critical for Europe.
Azerbaijan only export 3% of the gas needed in Europe.
There are plans to increase this but it needs investment in infrastructure.
Thanks for the correction.
Costin1984
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Kazahstan is allready France's main uranium supplier, ahead of Niger.
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Push come to shove and there are chokepoints/closures from Niger et al....and no new economical/feasible supply from central asia and I suppose chinese logistics relevant to this (or other new sources France hasnt imported from that much yet)..... France will just increase supply from Australia, Canada and maybe Namibia. The price of uranium may go up on world market (depending on how much another importer fills in demand for Niger)....but I dont see any major threat to French or EU uranium supply from Niger. Uranium supply market is hedged and multi-polar.
Before the French army was expelled from Niger, the French uranium mining company stopped its investments in the region.
A blistering bull run is underway in the market for uranium
- AI stocks have hogged the limelight, but another asset cluster has enjoyed a similar boom.
- Uranium and shares in companies that mine it have enjoyed a scorching rally on soaring demand.
- Nuclear energy is back in fashion as more reactors are planned amid a shift away from fossil fuels.
While artificial intelligence hogs all the limelight in the investing world, another under-the-radar asset cluster has been quietly stealing a march on tech stocks.
A blistering bull run is underway in the market for uranium, the radioactive element used to produce nuclear energy. Prices just hit 15-year highs, and are on track for a record annual gain as a move away from fossil fuels increases demand.
That's also fueling a scorching rally in the stocks of uranium miners such as Cameco. The Sprott Uranium Miners Exchange-Traded Fund (URNM) has jumped 42% this year – higher than the 40% advance in the tech-focused Nasdaq 100 index. Cameco's shares rocketed 83% year-to-date.
Uranium is up 55% this year and last week hit $74.50 per pound – the highest level since 2008. In comparison, gold has gained just 7.7%, while US oil prices fell 3.7%.
Heavy metal mania
Demand for the heavy metal has surged as countries from China to India and Russia pursue more nuclear programs to generate more energy while reducing carbon emissions.About 60 nuclear reactors are under construction globally and will need about 30 million pounds of uranium a year when they start operating, according to a report by mining investment news and analysis provider Crux Investor.
On the other hand, supply of uranium has been constrained by years of underinvestment in the sector following the 2011 Fukushima nuclear disaster in Japan.
The widening demand-supply gap will continue to drive uranium prices higher, according to John Ciampaglia, CEO of Sprott Asset Management, which specializes in precious metals and real assets.
Uranium prices have jumped "about 150% in the last two years, and we think there's more room to go," he recently told CNBC.
Ciampaglia blamed the "major supply deficit" for the surge: "That's really a function having a lost decade where we did not invest in this technology. As a result, we did not invest in a lot of mining."
China leads the race
About 800 gigawatts of new nuclear power generation may be needed globally by 2050 to meet energy-transition goals, according to a report by asset manager Global X ETFs. China is expected to lead the atomic-energy race in this century.By 2060, China should be generating about 18% of its electricity from nuclear plants in the world, up from about 5%, Rohan Reddy of Global X wrote in the report.
A blistering bull run is underway in the market for uranium
A boom in nuclear energy has triggered soaring demand for uranium, pushing prices sharply higher amid a global push to reduce reliance on fossil fuels.
markets.businessinsider.com
I told you. The uranium market went crazy.
Zafer
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We should sell our uranium.A blistering bull run is underway in the market for uranium
- AI stocks have hogged the limelight, but another asset cluster has enjoyed a similar boom.
- Uranium and shares in companies that mine it have enjoyed a scorching rally on soaring demand.
- Nuclear energy is back in fashion as more reactors are planned amid a shift away from fossil fuels.
While artificial intelligence hogs all the limelight in the investing world, another under-the-radar asset cluster has been quietly stealing a march on tech stocks.
A blistering bull run is underway in the market for uranium, the radioactive element used to produce nuclear energy. Prices just hit 15-year highs, and are on track for a record annual gain as a move away from fossil fuels increases demand.
That's also fueling a scorching rally in the stocks of uranium miners such as Cameco. The Sprott Uranium Miners Exchange-Traded Fund (URNM) has jumped 42% this year – higher than the 40% advance in the tech-focused Nasdaq 100 index. Cameco's shares rocketed 83% year-to-date.
Uranium is up 55% this year and last week hit $74.50 per pound – the highest level since 2008. In comparison, gold has gained just 7.7%, while US oil prices fell 3.7%.
Heavy metal mania
Demand for the heavy metal has surged as countries from China to India and Russia pursue more nuclear programs to generate more energy while reducing carbon emissions.
About 60 nuclear reactors are under construction globally and will need about 30 million pounds of uranium a year when they start operating, according to a report by mining investment news and analysis provider Crux Investor.
On the other hand, supply of uranium has been constrained by years of underinvestment in the sector following the 2011 Fukushima nuclear disaster in Japan.
The widening demand-supply gap will continue to drive uranium prices higher, according to John Ciampaglia, CEO of Sprott Asset Management, which specializes in precious metals and real assets.
Uranium prices have jumped "about 150% in the last two years, and we think there's more room to go," he recently told CNBC.
Ciampaglia blamed the "major supply deficit" for the surge: "That's really a function having a lost decade where we did not invest in this technology. As a result, we did not invest in a lot of mining."
China leads the race
About 800 gigawatts of new nuclear power generation may be needed globally by 2050 to meet energy-transition goals, according to a report by asset manager Global X ETFs. China is expected to lead the atomic-energy race in this century.
By 2060, China should be generating about 18% of its electricity from nuclear plants in the world, up from about 5%, Rohan Reddy of Global X wrote in the report.
A blistering bull run is underway in the market for uranium
A boom in nuclear energy has triggered soaring demand for uranium, pushing prices sharply higher amid a global push to reduce reliance on fossil fuels.
I told you. The uranium market went crazy.
Almost no Russian oil is sold below $60 cap, say western officials
The US-led price cap on Russia’s oil sales is being almost completely circumvented, according to western officials and Russian export data, forcing countries to explore ways to reinforce one of their key economic sanctions against Moscow.
One senior European government official said “almost none” of the shipments of seaborne crude in October were executed below the $60-a-barrel limit that the G7 and its allies have attempted to impose. “The latest data makes the case that we’re going to have to toughen up . . . there’s absolutely no appetite for letting Russia just keep doing this,” the official said.
EU officials have held discussions in recent days on reinforcing the cap, including options for strengthening enforcement or clamping down on Russia’s access to the used oil tanker market. Concerns among western officials are backed up by official Russian statistics on oil sales in October, which Moscow says shows the average price received was above $80 a barrel. While Russian economic statistics have been questioned during the war, the level recorded is the basis for how much Moscow taxes oil exports.
The jump in Russian prices has dealt a blow to G7 efforts to limit the funds flowing to the Kremlin to fund its full-scale invasion of Ukraine, and comes as Kyiv has made only limited progress in its counteroffensive.
G7 members and Australia introduced the price cap measures for crude oil last December, aiming to squeeze Russia’s revenues by cutting off access to western services such as shipping and insurance unless traders abided by the $60 limit. While the measures enjoyed some early success, Russia has proved adept at countering them, building up its so-called “shadow fleet” of ageing oil tankers to circumvent western markets, for example.
The average price of Urals, Russia’s main export grade, moved above the $60 limit this summer as oil prices rallied due to supply cuts by Saudi Arabia and Moscow with the wider Opec+ cartel, but a substantial portion continued to trade below that level.
But by late September the FT reported that almost three-quarters of all seaborne Russian crude flows travelled without western insurance in August, a key sign that more were starting to circumvent the cap. In October, only 37 of the 134 vessels that shipped Russian oil held western insurance and officials say the number operating below the cap is now likely to be much lower. European officials are concerned that some western insurance providers have been given false declarations from Russian oil companies or traders, which must provide written assurances the crude is priced below $60. One mechanism by which this has been achieved previously is by inflating shipping costs. Western officials say they remain committed to the price cap, even as they acknowledge few barrels still trade below it.
A US Treasury official said the goal was not just an effort to “make as many barrels of oil as possible travel under the cap”, but also “to change Russia’s incentives in a way that makes it make hard choices”. Shifting to selling oil largely without western insurance and shipping has caused “great cost” to the Kremlin. Jeffrey Sonnenfeld, a professor at the Yale School of Management who has advised the US Treasury on the price cap, said longer journeys for Russian oil tankers, higher insurance premiums, additions to port capacity and new capital expenditures had added about $36 a barrel to the cost of Russian oil sales, limiting Moscow’s profits.
G7 members have already started to step up enforcement of the cap. Last week the UK sanctioned Paramount Energy & Commodities DMCC, a Dubai-based trader, saying it had been “used by Russia to soften the blow of oil-related sanctions”. The US Treasury department this month requested information from 30 ship management companies about 98 vessels it suspects of violating the cap, a person familiar with the matter said. The request was first reported by Reuters.
Of the 30 ship management companies contacted, 17 of them were in G7 price-cap coalition countries. Six were in the UAE, with others in India, Turkey, China, Hong Kong and Indonesia, a person familiar with the matter said. The price Russia is getting for its oil is still below Brent, the crude benchmark which averaged $89 a barrel in October. But Russia has been able to reduce the discount offered on its oil from as much as $40 a barrel earlier this year to less than $10 a barrel last month.
The price cap was designed to keep Russian crude flowing in global markets, as G7 members tried to avoid a supply crunch and price spike that would benefit Moscow. Western policymakers facing elections are also keen to keep prices in check to help tame inflation. US President Joe Biden, who faces a probable re-election battle against former president Donald Trump next year, has vowed to try to keep pump prices down in the world’s largest oil consuming country. Russia has also placed restrictions on exports of refined fuels, blaming domestic shortages but raising fears Moscow could weaponise oil supplies.
Almost no Russian oil is sold below $60 cap, say western officials
Allies discuss ways to ‘toughen up’ key sanction as Moscow circumvents limits on seaborne crude
Norway-based NRK: Following the start of the operation in Ukraine, the reduction and cessation of Russian gas supply provided an opportunity for Norway to make good money from gas supply.
Opposition parties in Norway characterize the government as war profiteers. Members of the Green Party said they are ashamed to be associated with Norway.
Energy wars between the USA, Russia and Saudi Arabia
The power of sanctions: India has stopped accepting tankers with Russian oil Almost 5 million barrels of Sokol crude have not reached Indian refineries in the past four weeks: tankers that regularly deliver Russian oil to India from the Far East are drifting off its coast or stopped on their way to the country. This is because, since mid-November, the United States has imposed sanctions against eight tankers of the Russian “shadow fleet” that violated the price ceiling for Russian oil.
