President Trump's announcement that he will withdraw the United States from the Iran nuclear deal sent crude oil prices up slightly. U.S. drivers who have noticed higher prices at the pump may be tempted to blame Trump's Iran decision, but it's only one factor at play right now. Even before Trump's announcement gasoline prices were nearly 50 cents a gallon higher than a year ago. Trump's decision could eventually mean less oil on the world market from Iran because now the U.S. will reimpose economic sanctions on Iran that were lifted as part of the 2015 deal. "We will be instituting the highest level of economic sanctions," Trump said. Other nations that do business with Iran also could face U.S. sanctions. The Treasury Department issued guidance on how the sanctions will be reimposed. For oil and other petroleum products there will be a 180-day period in which people doing business with Iran will be able to wind down those operations before facing penalties. In the meantime, Tom Kloza
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