INSIGHT BRIEFING:
Uranium enters futures market
The first day of trading in uranium futures showed very thin volumes. However, settlement prices established for June 2007 and January 2008 show some observers are expecting uranium prices to increase and reach $150 per pound.
Uranium futures began trading for the first time on 7 May on the New York Mercantile Exchange (Nymex). Speculators can now purchase futures contracts to be settled against an 'actual' price for uranum determined each month by Ux Consulting (UxC), which has partnered with Nymex for the venture.
INSIGHT BRIEFING:
Iran rebuked by sanctions
Financial and trade restrictions have been placed on Iran by the United Nations Security Council.
Iran's initial response was restrained.
The resolution imposed sanctions against Iran for its failure to suspend uranium enrichment and demanded suspension "work on all heavy water-related projects" and of “all enrichment-related and reprocessing activities, including research and development." It also calls for a ban on trade with Iran in goods related to its nuclear programmes and missile delivery systems.
INSIGHT BRIEFING:
USA brings India in from the cold
Both US houses have approved the text of a civilian nuclear cooperation deal with India that
will see nuclear trade between the countries for the first time in 30 years.
On 9 December the US Senate voted to approve the 'Henry J. Hyde United States-India Peaceful Atomic Energy Cooperation Act of 2006' after a series of revisions since President George Bush and Prime Minister Manhohan Singh signed an initial agreement in July 2005.
