Firms feel the impact of rising oil prices

Shale zone: Mule deer grazing in a field near a pumpjack in the Bakken Foundation outside Williston, North Dakota. Union Pacific which operates in the western US where much of the shale exploration occurs, sees its energy revenue jump by 15 in March. — Bloomberg

THE highest oil prices in years are increasing expenses for companies that had grown used to low energy costs since crude’s 2014 tumble, while the turnabout is proving to be a boon for some businesses.

Giant outfits from American Airlines Group Inc to 3M Co have warned this week about how persistent higher oil prices are boosting their expenses this year.