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Energy’s Worst Performing Commodity Sinks Lower Amid Oversupply

  • Spot uranium price declines below $25 a pound to 11-year low
  • Demand lacking; market conditions unlikely to change soon: Ux

Uranium prices have gone from bad to worse, slumping to an 11-year low as brimming global inventories weigh on a market that hasn’t recovered from the Fukushima disaster in Japan.

Spot uranium declined 1.4 percent to $24.40 a pound on Thursday, the lowest since April 2005, according to data from Ux Consulting Co. Prices have slumped 29 percent this year, making it the worst performing energy commodity in 2016. The fuel has more than halved since hitting $73 the month before the Fukushima meltdown in 2011.