The cost of shipping oil cargoes on a supertanker through [ADDRESS] is about $20 million, the boss of Total Energies SE said, underscoring the wide margins to be made by traders and shipowners. Total Energies Chairman and Chief Executive Officer [PERSON_NAME] said the company is buying barrels at $50 to $60 inside [ADDRESS] as producers are desperate to get their supplies onto the market following six months of conflict. The additional freight costs for a supertanker equate to about $10 a barrel, he said.

Benchmark Brent futures were trading above $90 on Monday.