*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).
A man accused of threatening President Joe Biden was shot and killed by the FBI as they sought to serve a warrant for him in Utah.
The shooting happened around 6:15 a.m. as special agents tried to serve a warrant on the home of Craig Deleeuw Robertson in Provo, south of Salt Lake City.
President Joe Biden will make his case for bringing back factory jobs in the U.S. during a speech in New Mexico.
Fani Willis, the Fulton County District Attorney in Atlanta investigating Trump, is expected to present her case to a grand jury next week.
A U.S Navy sailor charged with passing sensitive information to China was encouraged to do so by his mother.
Ohio voters rejected a ballot measure that would make it harder to pass constitutional amendments, including an upcoming vote on abortion.
Mississippi Gov. Tate Reeves won the Republican nomination for a second term on Tuesday.
Fani Willis, the Fulton County District Attorney in Atlanta investigating Trump, is expected to present her case to a grand jury next week.
Former President Donald Trump spoke out against a potential protective order that would prevent him from disclosing evidence in the 2020 election case.
Ohio voters rejected a ballot measure that would make it harder to pass constitutional amendments, including an upcoming vote on abortion.
