Analysts note "how do oil futures work" impacts inflation expectations. Rising crude futures above $80 could add pressure on CPI readings, influencing Fed rate policy and bond yields. Impacts on the oil and gas sector also appear to be rippling out more broadly. Reporting by Amanda Stephenson in Calgary, Robert Harvey in London, Mohi Narayan in New Delhi and Florence Tan in Singapore Additional reporting by Arathy Somasekhar in Houston Editing by Emelia Sithole-Matarise, Chizu Nomiyama and Matthew Lewis Knowledge of "how do oil futures work" is critical when quarterly earnings of oil majors approach. Futures price trends often foreshadow revenue shifts; Chevron futures-linked hedges imply stable Q2 margins.