NEW YORK, 9 July 2004 — New York’s main crude oil contract yesterday shot up $1.25 to close at $40.33 a barrel. It was the first finish above $40 since June 1. The price of reference Brent North Sea crude oil for delivery in August rose by seven cents to $36.68 per barrel in late deals in London. The US Department of Energy (DoE) said stocks of crude oil rose by 100,000 barrels to 305 million barrels in the week to July 2, while the private American Petroleum Institute (API) said they fell by 1.58 million barrels to 305.14 million.