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Rory Johnston: HSBC CEO highlights $286 oil barrel delivery cost to Sri Lanka
HSBC's CEO has revealed that the highest delivered oil price encountered was $286 per barrel for a shipment to Sri Lanka. Rory Johnston shared this detail, noting that the figure includes shipping and insurance costs.
Despite these additional fees, Johnston emphasized the steepness of the price, calling it "eye-watering." No further specifics were provided about when the transaction took place.
Johnston has previously estimated that a Kuwaiti VLCC attack could move WTI crude by $1 to $1.50 per barrel (read more). He also reported when crude oil reached a nominal all-time high above $144.22 per barrel (details here). Both figures are well below the delivered price cited for the Sri Lanka shipment.
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