Here's what drives the price of oil

4:55 PM ET Tue, 15 May 2018

President Trump's decision to pull out of the Iran nuclear deal could rattle the oil market, but there's a lot more to it than just that. There are many factors in play when it comes to how prices are determined. Crude is influenced by three major factors: supply, demand and geopolitics - and all three play a big role in how much Americans pay at the pump.