It's news that's almost worth writing home about! Uranium investors will be pleased to note that the uranium spot price showed some signs of life this week. U3O8 prices have managed to claw their way up to $30 for the first time since late spring. Despite still being down a miserable 12.9 percent from $34.33 at the end of 2013, U3O8 made an impressive gain this week, trading hands 4.3 percent higher than the previous week. What's behind this sudden move, you ask? As Raymond James analyst David Sadowski states in a new Weekly Uranium Tracker, so far in August, trading volume is up 1.3 million pounds on continued interest from traders and utilities. Part of the fuss has been brought on by Russian sanctions, which remain a catalyst for buyer interest. Indeed, as Sadowski highlights, sanctions are "contributing to the recent run-up in spot pricing, up US$1.69/lb in six trading days." Also of note, is long-term volume, which is still at zero. However, "interest remains strong as evidenced by three utilities' request for a total of ~5.8 Mlbs." Cameco labor dispute could result in strike As one of the biggest fish in the pond, investors definitely take cues from Cameco (TSX: CCO,NYSE:CCJ) when it comes to the uranium market. Cameco has been in talks with unionized employees at both McArthur River and Key Lake since November 2013, as collective agreements expired at year end. Since then, no agreement has been reached, which has resulted in the potential for work stoppages should no agreement be reached before August 30, 2014. Indeed, this week, 92 percent of unionized workers at the mines voted in favor of going on strike at month end should no agreement be reached with the company.