*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 State Department said Tuesday that Russia rejected its proposed offer to release detained Americans Paul Whelan and Evan Gershkovich.
The Justice Department has announced war crime charges against four Russian nationals in connection with the invasion of Ukraine.
Iran said it sent a capsule that is capable of carrying animals into space.
The Senate has confirmed the promotions of hundreds of military officers after Republican Senator Tommy Tuberville dropped his months-long hold over the process.
Four candidates will face off tonight in the latest Republican presidential primary debate. Columnist and political analyst Jonathan Harris joined Cheddar News to break down tonight's event.
House Republicans are expected to vote next week to formalize the impeachment inquiry into President Joe Biden.
The Senate in a single stroke has approved about 425 military promotions after Sen. Tommy Tuberville of Alabama ended a monthslong blockade of nominations over a Pentagon abortion policy.
The presidents of three U.S. colleges and universities are testifying before a House Committee on their handling of anti-Semitic incidents after Hamas' attack in Israel in October.
The Supreme Court on Tuesday dismissed a case surrounding a Maine hotel that could have made it harder for people with disabilities to learn in advance whether a hotel's accommodations meet their needs.
Attorneys for former president Donald Trump missed their chance Monday to pause the gag order against their client in his civil fraud trial in New York.
