Soaring Oil Costs Mean Price Hikes for 3M Customers -- Market Talk

Dow Jones04-21 22:49

1049 ET - 3M says it is hiking prices to cover $125 million in higher expenses related to oil. The material maker says the cost of ethylenes-the oil-derived chemicals used to make plastic-has been going up due to the ongoing conflict in Iran, and the company aims to pass that onto its customers. CEO Bill Brown says higher oil prices could also affect consumer spending, but 3M is sticking with its earlier guidance of 4% adjusted total sales growth in 2026. Shares edge higher. (john.keilman@wsj.com)

(END) Dow Jones Newswires

April 21, 2026 10:49 ET (14:49 GMT)

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Shares edge higher. 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The material maker says the cost of ethylenes-the oil-derived chemicals used to make plastic-has been going up due to the ongoing conflict in Iran, and the company aims to pass that onto its customers. CEO Bill Brown says higher oil prices could also affect consumer spending, but 3M is sticking with its earlier guidance of 4% adjusted total sales growth in 2026. Shares edge higher. 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