Data showed large declines in exports of both the volatile consumer goods category and capital goods, which in April had advanced to a record high.

The DOE said that it hopes the loans will help lower construction costs and speed up the deployment of the 10 reactors by as much as three years.

Earlier on June 22, barges carrying diesel through Kaub in Germany were limited to about 1,070 tons of cargo, according to Spotbarge data. 

The move was in response to the Pentagon’s decision this month to add some of China’s biggest companies to a roster of firms it accuses of supporting the Chinese military.

Iran’s declaration on June 20 will likely make more risk-averse shipowners with vessels that have been trapped inside Hormuz for months more wary of exiting.

The surge in U.S. exports, however, doesn’t come close to meeting Cuba’s acute needs as the nation of 10 million people runs short of food and fuel.

Procurement’s influence within the enterprise has expanded significantly over the past few years. The more important question now is how that influence translates into measurable outcomes.

Chevron Corp. Chief Executive Officer Mike Wirth said there are indications that flows through the strait are probably not as high as the energy secretary said.

In May, U.S. manufacturing activity remained in “expansion territory,” said Susan Spence, MBA, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee. 

The effective closure of the Strait of Hormuz in early March has driven Asian buyers to look for alternative sources to replace disrupted Persian Gulf barrels.