WTI holds near $81 a barrel as Iran war risk keeps a geopolitical premium in prices

West Texas Intermediate (WTI) futures are holding around $81 a barrel, up more than 20% from the last trading day of February, as ongoing Iran war risk continues to support a geopolitical premium. The S&P Energy sector is down 7.3% over the past month. ExxonMobil and Chevron have fallen 20% and 16%, respectively, from their March 30 highs. With no new escalation or supply disruption cited, the move points to resilience in prices despite risks that appear largely priced in.