Uniper expects elevated gas prices as Hormuz opening elusive

FRANKFURT, Aug. 11 (Reuters) - German utility Uniper on Tuesday warned gas prices would stay around €50 to €60 per megawatt hour as long as the Strait of Hormuz remains closed, its CEO said.

"These high prices are bad for our customers, bad for the industry and bad for our wealth. That is why we need a solution," Michael Lewis told journalists after presenting first-half results.

Efforts to reopen the strait, which is key to the transport of liquefied natural gas, were complicated on Monday after U.S. President Donald Trump responded to Iran's conditions for a peace deal with his own demands.

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