Sri Lanka, April 16 -- The price paid for a barrel of oil in Asia has reached as high as $286 in at least one case, as a result of the US-Israeli war on Iran, Georges Elhedery, the CEO of HSBC Bank, said at an investment forum in Hong Kong on Tuesday.

Elhedery made the remarks to underscore how the benchmark price of oil in the West does not reflect the actual price buyers in certain parts of the world are paying.

"What worries me is not the headlines. I mean, oil headline is above $100, $110," he said, according to a transcript of his conversation recorded by Bloomberg and obtained by Sherwood News.

"Realistically, if you are now trying to get oil from the Middle East, you may be paying $140, $150," he said.

The banker said that the ...