U.S. Senate approves ban on Russian uranium, giving North American miners a boost. Biden expected to sign into law. Concerns over Russia's retaliation.
Sharp increase in oil prices has led to outperformance of energy stocks, with WTI rising 20% this year. EIA forecasts $90/bbl in Q2 2024 and $3.60/gal in retail gasoline prices by 2024. 3 energy firms in top 10 S&P 500 performers YTD and many more set to report earnings in April 2024.
https://www.bloomberg.com/news/articles/2024-04-01/us-shale-drillers-seek-to-power-oil-patch-with-small-nukes?sref=y3YMCJ4e US oil companies including Diamondback Energy Inc. are considering small nuclear reactors