* Futures down: Dow 0.62%, S&P 500 0.47%, Nasdaq 0.44%

* Goldman Sachs delays next Fed rate-cut forecast to

September

* Oil surges to $100/barrel as tankers set ablaze in

Middle East

* Investors monitor private credit jitters

(Updates prices throughout)

By Johann M Cherian and Utkarsh Hathi

March 12 (Reuters) - U.S. stock index futures fell on

Thursday as oil prices surged past $100 a barrel, fanning

inflation worries and forcing traders to dial back expectations

of U.S. interest rate cuts.

Crude prices jumped after two tankers were set ablaze in

Iraqi waters in apparent Iranian strikes, as part of wider

attacks on oil and transport facilities across the Middle East.

Iran warned prices could surge as high as $200 a barrel.

S&P 500 airline stocks, highly sensitive to fuel

costs, are on track for their biggest monthly losses in a year.

American Airlines ( AAL ) and United were down over 2%

each in premarket trading on Thursday, along with cruise stocks

Norwegian and Royal Caribbean.

Energy companies Occidental and ConocoPhillips ( COP )

rose 1.8% and 1%, respectively.

Goldman Sachs has pushed back its forecast for the Federal

Reserve's next rate cut to September, from an earlier

expectation of June. Money market futures show traders now fully

price in only one quarter-point cut by December, down from two

cuts expected before the conflict.

"The problem is that investors are increasingly pricing in a

more protracted conflict that causes extensive economic damage,"

said a group of strategists led by Deutsche Bank's Jim Reid.

"After all, with no concrete signs of de-escalation yet,

that's keeping oil prices elevated, and raising the risk of a

broader stagflationary shock."

Global markets have been roiled this month as the

U.S.-Israel war with Iran has disrupted oil and gas supplies and

sent crude prices sharply higher, complicating global central

banks' plans to ease monetary policy.

The International Energy Agency said that the world is

facing the biggest oil supply disruption in history, with global

supply is expected to drop by 8 million barrels per day in

March.

At 7:21 a.m. ET, Dow E-minis were down 293 points,

or 0.62%, and S&P 500 E-minis were down 32 points,

or 0.47%. Nasdaq 100 E-minis were down 110 points,

or 0.44%.

The CBOE volatility index, Wall Street's fear gauge,

was up 1.08 points at 25.31, while futures tied to the

rate-sensitive Russell small-caps index lost 1%.

Investors are also scrutinizing the roughly $2 trillion

private credit market following a string of credit issues that

have surfaced in recent months, raising concerns over loan

performance and borrowers' ability to manage elevated interest

rates.

Swiss private equity firm Partners Group warned private

credit default rates could double in the next few years, and

Glendon Capital Management said private credit lenders such as

Blue Owl are obscuring weaknesses in their portfolios,

according to reports.

Morgan Stanley ( MS ) slipped 2% after limiting redemptions

at one of its private credit funds after similar actions by

Blackstone and Blackrock ( BLK ) earlier this month.

JPMorgan Chase ( JPM ) reduced the value of some loans to

private credit funds on Thursday.

Shares of Blackstone dropped 1.4%, while Blue Owl

lost 3%.

Additionally, Washington said it was launching two new trade

investigations into excess industrial capacity in 16 major

trading partners and into forced labor, in a long-telegraphed

move, to rebuild tariff pressure, after the Supreme Court tore

down much of President Donald Trump's tariff program last month.

Bumble jumped 25% on Thursday after the dating app

operator reported fourth-quarter revenue above estimates.

Dollar General ( DG ) fell 3.3% after the discount retailer

forecast annual comparable sales below estimates.

Later in the day, investors will gauge jobless claims and

comments from Fed Vice Chair for Supervision Michelle Bowman,

ahead of Friday's personal consumption expenditure data - the

central bank's preferred inflation gauge.