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Nuclear Update Premium March 28, 2026
The Strait of Hormuz disruption has turned into a full-scale energy shock, pushing oil higher, slowing growth, and forcing markets to reprice a world where policy support is no longer guaranteed. In uranium, Kazatomprom, the world’s largest uranium producer, reported 2025 results reinforcing that supply remains disciplined, costs are rising, and utilities are still sitting on the sidelines while uncovered demand builds.
Nuclear Update Premium March 21, 2026
This week was a turning point. Markets moved from unstable to outright fragile, with the long-term trend breaking just as credit stress and macro conditions worsened. Rising oil prices, softer growth, and tighter financial conditions are now starting to hit the market at the same time. In uranium, the picture kept improving. The U.S. and Japan announced a $40 billion nuclear buildout built around BWRX-300 SMRs, and the Indo-Pacific Energy Security Summit added another $56 billion of energy and supply-chain deals with meaningful nuclear relevance.
Nuclear Update Premium March 14, 2026
The Macro environment weakened significantly this week. Breadth weakened, volatility picked up, and the escalation around Iran and the Middle East pushed oil sharply higher, forcing investors to think again about the combination of softer growth and renewed inflation pressure at the same time. In uranium, rising oil stress is again forcing governments to think about fuel security, and history shows that periods of energy disruption often accelerate nuclear buildout. This week, 4 more countries signed on to the pledge to triple nuclear capacity by 2050, while Meta backed deployment of 8 new Natrium reactors with TerraPower.
Nuclear Update Premium March 7, 2026
Macro turned less comfortable this week. Oil moved higher, yields refused to fall, and short-term market internals weakened, even as the longer-term structure still held together. In uranium, demand kept moving ahead. Cameco locked in a 22 million pound long-term supply agreement with India, the U.S. approved the first reactor construction in 10 years, and U.S.-Japan energy cooperation looks set to include up to $100 billion of support for Westinghouse reactor deployment.
Nuclear Update Premium February 28, 2026
Macro is not breaking, but it is getting more complicated. Commodities are rising, the dollar is slipping, and the short-term tape is becoming less forgiving. In uranium, the tone has shifted more dramatically. One bank is now calling for $200 uranium, and multiple banks are projecting multi-year supply deficits.
Nuclear Update Premium February 21, 2026
Markets are still in an uptrend, but the tone has shifted. Short-term friction is building, while the longer-term structure remains intact. At the same time, uranium continues to tighten structurally as Eastern buyers move aggressively and Western demand signals accelerate.
Nuclear Update Premium February 14, 2026
While I was writing this week’s Premium, my wife went into labour and we had to rush to the hospital. 12 hours later, we got to welcome Nuclear Update Junior to the family ⚛️👶That means this edition is a bit shorter than usual, but I’d rather send what I finished than skip a week.Back to the usual full length next edition.
Nuclear Update Premium February 7, 2026
This week, index prices held up, but market internals began to weaken. Participation narrowed, leadership split, and price action became less forgiving even as recession risk remained contained. In uranium, the focus shifted back to supply. Kazatomprom, the world’s largest uranium producer, released its 4Q25 operations and trading update. On paper, the report showed higher output and strong sales. In practice, it reinforced why “more supply” on paper doesn’t translate into real comfort for the market.
Nuclear Update Premium January 31, 2026
The data still shows that risk-on conditions are in place. But rotation is rising, and this is turning into a stock-picking market. Uranium pushed to a new cycle high in both spot and long-term pricing, SPUT stepped in aggressively, and the updated ATM filing adds a new layer of firepower that is hard to ignore.
Nuclear Update Premium January 24, 2026
The macro trend is still up. Breadth is behaving, credit is calm, volatility has cooled, but the market is relearning one thing: geopolitics move faster than fundamentals. In uranium, Trump talked nuclear on a global stage, Washington is putting $5B behind reactor development, and Big Tech is starting to lock in strategic inputs for the data center buildout.
Nuclear Update Premium January 17, 2026
Macro data still points higher, but expectations are high and Trump is escalating pressure on the Fed’s rate path. In uranium, spot price hit an 18-month high, while an executive order opened the door to uranium price floors, Big Tech is being told to fund new capacity, and Canada and China put uranium explicitly back into energy diplomacy.
Nuclear Update Premium January 10, 2026
Macro remains bullish, but expectations are high, and small disappointments can trigger sharp pullbacks. Uranium delivered the opposite setup: spot was calm, but policy and hyperscaler demand were loud, with $2.7B for enrichment, $800M for SMR deployment, and Meta committing to nuclear capacity at scale.