*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 Pentagon is pulling back about 1,100 active military troops from the U.S.-Mexico border.
Vice President Kamala Harris rejected an invitation from Florida Gov. Ron DeSantis to debate new standards in Black history education in that state.
Clinics in Indiana have stopped abortion services ahead of the state's enactment of a total ban.
Vice President Kamala Harris has publicly declined Florida Gov. Ron DeSantis' invitation to debate new standards in Black history education in Florida.
New Jersey is mourning the loss of Lt. Gov. Sheila Oliver, who passed away at the age of 71.
Trump is facing a new set of felony charges after a federal grand jury indicted him on crimes related to his attempt to overturn the 2020 election.
The Justice Department's four-count indictment Tuesday accuses the former president of assaulting the underpinnings of democracy in a frantic but ultimately failed effort to cling to power.
Thousands of Marines backed by advanced U.S. fighter jets and warships are slowly building up a presence in the Persian Gulf. It’s a sign that while America’s wars in the region may be finished, its conflict with Iran over its advancing nuclear program continues to worsen, with no solutions in sight.
President Joe Biden has decided to keep U.S. Space Command headquarters in Colorado, overturning a last-ditch decision by the Trump administration to move it to Alabama. The choice ended months of thorny deliberations, but an Alabama lawmaker vowed to fight on.
Parents and faith leaders have sued to stop Oklahoma from creating what would be the first religious public charter school in the nation.
