Uranium Prices Rising Amidst Russia-Ukraine Conflict, Oil Futures Seeing Large Gains, Lumber Price - Commodities in the Current Market

Uranium Prices Rising Amidst Russia-Ukraine Conflict, Oil Futures Seeing Large Gains, Lumber Price - Commodities in the Current Market

Commodities update by FXMAG.COM

  • Value of lumber had increased by 1.25%
  • As a result of the possibility that Uranium exports from Russia may be banned, the price of the commodity has increased by at least 50%
  • As of market close yesterday, Oil futures saw a rise of nearly 4% as a result of the Ukraine and Russia coming to a dead end on negotiations

The Price of Lumber and its relationship with mortgage prices and inflation.

As of market close yesterday, the value of lumber had increased by 1.25%, showing small signs of recovery after the price fell by 6% on Tuesday. The price of Lumber falling consistently over the past month could be explained by the increase in the inflation rate which has put a dent in the home improvement market, thus weakening the demand for Lumber. Another potential explanation for the price of this essential commodity falling could be due to the supply chain issues the Lumber market was experiencing last year having being solved, easing supply pressures and subsequently lowering prices further.

Lumber Prices, Lumber Futures

Lumber Price Chart

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Uranium Prices Rising Amidst Russia-Ukraine Conflict.

As a result of the possibility that Uranium exports from Russia may be banned, the price of the commodity has increased by at least 50% and according to Bank of America, they don't suspect the price surge to begin slowing down. As the war in the Ukraine continues, there is more possibility for the rising commodity prices to continue.

Uranium Price

Uranium Price Chart

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Oil Futures Seeing Large Gains

As of market close yesterday, Oil futures saw a rise of nearly 4% as a result of the Ukraine and Russia coming to a dead end on negotiations. As of the market open today, the price has dropped slightly to $102.95. The graph below shows the major gains made by this commodity yesterday.

Crude Oil Price News Today

Crude Oil Price Chart

Sources: Finance.yahoo.com, markets.businessinsider.com

Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.