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Thu 05 May 2004EU blames speculation for oil jumpThe European Union weighed into the debate about rising oil prices yesterday, when an EU Commissioner blamed the increase on speculation rather than scarcity and it emerged that finance ministers would discuss the subject next week.In a relatively rare step, oil specialists from the EU's 25 member governments also met in Brussels yesterday to look at member states' readiness to deal with a possible crisis in supply. They met as oil prices remained firm at around $41 per barrel.