*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).
President Joe Biden has chosen a new leader for the National Security Agency and U.S. Cyber Command, a joint position that oversees much of America's cyber warfare and defense.
Attorneys general across the U.S. joined in a lawsuit against a telecommunications company accused of making more than 7.5 billion robocalls to people on the national Do Not Call Registry.
Abortion will soon be severely restricted in one of the last bastions for legal access in the U.S. South.
Donald Trump threw up his hands in frustration Tuesday as a judge scheduled his criminal trial for March 25, putting the former president and current candidate in a Manhattan courtroom in the heat of next year’s presidential primary season.
What to expect Wednesday, May 24, 2023
Republican Nebraska Gov. Jim Pillen signed a bill Monday that bans abortion at 12 weeks of pregnancy and restricts gender-affirming medical care for people younger than 19.
Democratic Sen. Tom Carper of Delaware announced Monday that he will not seek reelection to a fifth term in the U.S. Senate.
he company argues the law is an unconstitutional violation of free speech based on “unfounded speculation” that the Chinese government could access users’ data.
If the fight with Congress over raising the government's debt limit is such a dire threat, why doesn't President Joe Biden just raise the borrowing ceiling himself? It's theoretically possible, but he's all but ruled it out for now.
The laws are “openly hostile toward African Americans, people of color and LGBTQ+ individuals," the NAACP wrote over the weekend.
