*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).
Michael Whitaker, who was nominated by President Biden to lead the FAA, was grilled by a Senate committee on how he would handle current situations with the agency.
The Biden administration waived 26 federal laws in southern Texas to allow border wall construction.
An unnamed CIA trainee is suing the federal agency claiming it used intimidation to stop her from filing a sexual assault lawsuit.
The stunning removal of Kevin McCarthy as speaker has left the House adrift as Republicans struggle to bring order to their fractured majority and begin the difficult and potentially prolonged process of uniting around a new leader.
New York City is challenging a unique legal agreement that requires it to provide emergency housing to anyone who asks for it, as the city's shelter system strains under a large influx of international migrants who have arrived since last year.
Attorneys for Donald Trump filed an appeal to a ruling from last week that found the former president and co-defendants liable for persistent fraud.
Warned to mind his out-of-court comments, former President Donald Trump returned to his New York civil fraud trial Wednesday as lawyers on both sides closely questioned an accountant who prepared financial statements at the heart of the case.
The third day of former president Donald Trump's civil fraud trial kicked off earlier Wednesday in New York, a day after a judge imposed a limited gag order on Trump.
The judge overseeing Donald Trump's civil fraud trial rebuked and issued a limited gag order against the former president.
The National Zoo's three giant pandas — Mei Xiang, Tian Tian and their cub Xiao Qi Ji — are set to return to China in early December with no public signs that the 50-year-old exchange agreement struck by President Richard Nixon will continue.
