*By Mike Teich*
President Trump pulled the United States out of the Iran nuclear deal Tuesday, abandoning the Obama administration's signature foreign policy accomplishment almost three years after it was agreed.
The oil market had already accounted for the likelihood Trump would abandon the deal, but volatility in oil prices could be affected by the tone of the president's statement, and the degree of the sanctions he imposes, said Patrick DeHaan, the head of petroleum analysis at GasBuddy.
"The more fiery the response from President Trump, the more oil prices could eventually rally," said DeHaan in an interview Tuesday with Cheddar.
A spike in oil prices might cause discretionary spending to drop, he said, adding that every penny the average price of oil rises, it takes $4 million a day away from the economy. While the initial increase in prices may make summer road trips a little more expensive for travelers, DeHaan doesn't anticipate a major impact on consumer spending until we hit a a more "psychological barrier" of $3 a gallon.
For the full interview, [click here](https://cheddar.com/videos/how-trumps-decision-to-withdraw-from-iran-nuclear-deal-affects-your-wallet).
The Supreme Court on Thursday preserved the system that gives preference to Native American families in foster care and adoption proceedings of Native children, rejecting a broad attack from some Republican-led states and white families who argued it is based on race.
The U.S. Department of Agriculture said Wednesday it hopes to weed out false or misleading animal-welfare claims on meat and poultry packaging with new guidance and testing.
New York City is paying to house newly-arrived migrants in hotel rooms. Cheddar News takes a closer look at one of the hotels, the Holiday Inn, which is housing about 15,000 migrants over the next 15 months.
We've been closely following the migrants that were sent to various cities across the United States. Now New York City is paying for hotel rooms for migrants who were sent there. Cheddar's own Ashley Mastronardi has a closer look at one of the hotels.
Illinois Governor J.B. Pritzker signed a bill that stops public schools and libraries from banning books.
The Biden administration reached a deal to preserve a federal mandate requiring health insurers to cover preventive care at no extra cost for patients.
Former President Donald Trump arrives for his arraignment in Miami.
The government can keep enforcing “Obamacare” requirements that health insurance plans cover preventative care — such as HIV prevention, some types of cancer screenings and other illnesses — while a legal battle over the mandates plays out, under a court agreement approved Tuesday.
Two men who were active-duty members of the Marines Corps when they stormed the U.S. Capitol pleaded guilty on Monday to riot-related criminal charges.
The Human Rights Campaign, for the first time in its 40-year history, declared a state of emergency for the LGBTQ+ community as anti-LTBTQ+ sentiment is on the rise. Cheddar News explains.
