*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).
Surrounded by dozens of cheering people in green clothes, Minnesota Democratic Gov. Tim Walz signed a bill Tuesday to legalize recreational marijuana for people over the age of 21, making Minnesota the 23rd state to legalize the substance for adults.
Texas would expand what is considered an illegal public performance of sexual conduct, under a bill approved late Sunday by state lawmakers that drag artists fear will be used to criminalize their shows.
Russia's Interior Ministry on Monday issued an arrest warrant for U.S. Sen. Lindsey Graham following his comments related to the fighting in Ukraine.
A rare drone attack jolted Moscow early Tuesday, causing only light damage but forcing evacuations as residential buildings were struck in the Russian capital for the first time in the war against Ukraine.
President Joe Biden said the U.S. will consider sanctioning those responsible for the "tragic violation" of human rights.
Some House Democrats will have to vote for McCarthy's bill if enough conservative Republicans keep their word to oppose any compromise.
A South Carolina judge temporarily blocked the state's newly-imposed ban on abortion after six weeks.
The U.S. Supreme Court has stripped federal agencies of authority over millions of acres of wetlands, weakening a bedrock environmental law enacted a half-century ago to cleanse the country’s badly polluted waters.
They are racing for an agreement this weekend.
New Census figures show about 1 in every 100 U.S. households is a same-sex couple.
