March 17 (Reuters) - Delta Air said on Tuesday it expects first-quarter profit within its initial forecast range but raised its revenue expectations, amid high jet fuel prices due to the conflict in the Middle East.

The carrier said consumer and corporate demand trends have improved into March with strength across its main, premium and loyalty revenues.

Shares of the carrier were up 3.55% in premarket trading.

Delta now expects first-quarter revenue to grow at a high- single-digit percentage, compared with its earlier forecast of 5% to 7%.

The company had forecast adjusted profit per share in the range of 50 cents to 90 cents.

Delta said it was well-positioned to navigate the current environment and was ready to tweak its capacity if fuel prices stay elevated.

Jet fuel prices have jumped more than 50% since U.S. and Israeli strikes on Iran in late February, with Iranian strikes across the major oil-producing region disrupting supplies and shutting key shipping routes.

Fuel is the second-largest expense for air carriers after labor, typically accounting for a fifth to a quarter of operating expenses. Jet fuel prices have been trading between $150 and $200 per barrel, compared with about $100 per barrel before the war.

(Reporting by Shivansh Tiwary in Bengaluru; Editing by Sriraj Kalluvila)