Oil prices were higher today notching a weekly gain as supply concerns from the Middle east mounted. Prices were up 6% week over week following last weeks 7% loss. “We believe that this type of week-to-week wide price swings will further characterize the crude markets through the rest of this month short of major bullish headlines out of the Mideast that could force adjustment in global oil balances,” said Jim Ritterbusch, president of Ritterbusch and Associates LLC in Galena, Illinois. U.S. domestic production returned this week to a record 13.3 million barrels per day level, according to the U.S. Energy Information Administration. Last month, frigid weather caused widespread shut-ins in oil producing regions. Brent traded up $.56 or .7% to close at $82.19. WTI traded up $.62 or .8% to close at $76.84.