What Trump's Decision on the Iran Nuclear Deal Means for Your Wallet
*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 American soldier who sprinted into North Korea across the heavily fortified border between the Koreas more than two months ago was whisked to a Texas Army base Thursday for medical checks and interviews after his return to the U.S., according to the Pentagon.
Republican presidential hopefuls have largely shunned TikTok, the hugely popular video-sharing app that some in both parties allege is a potential spy mechanism for China.
Amazon is being sued by U.S. regulators and and 17 states over allegations that the company abuses its position in the marketplace to inflate prices on other platforms, overcharge sellers and stifle competition.
