New Concept Energy shares rise 13.30% intraday as Iran threatens to close Strait of Hormuz, increasing oil supply risks and company's exposure to oil and gas market volatility.

New Concept Energy surged 13.30% intraday due to heightened oil supply risks following Iran’s threat to close the Strait of Hormuz after a U.S.-Israel joint strike. The company, which operates real estate leasing and provides consulting/services to independent oil and gas firms, is exposed to market volatility in the energy sector.