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New Concept Energy Inc. (NYSEAMERICAN: GBR) shares are trending on Thursday night.
Shares of the Dallas-based company surged 26.61% to $1.38 in after hours trading on Thursday.
According to Benzinga Pro data, GBR closed regular trading up 33.01% at $1.09.
Strait of Hormuz Fears Drive Rally
The stock move came after U.S. and Israeli forces carried out joint strikes against Iran over the weekend, prompting Tehran to move toward shutting down the Strait of Hormuz, a key waterway carrying about 20% of the world’s crude oil shipments.
The supply of crude oil has become vulnerable, driven by disruptions in the Strait of Hormuz and drone strikes on regional energy …
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