* Futures down: Dow 0.55%, S&P 500 0.44%, 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

* Trump administration starts trade probes into 16

trading partners

(Updates with premarket prices)

By Medha Singh and Johann M Cherian

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

Thursday as oil prices soared to around $100 a barrel, fanning

inflation worries and forcing traders to dial back expectations

of U.S. interest rate cuts.

Crude prices jumped following reports that two tankers were

set ablaze in Iraqi waters after apparent Iranian strikes, part

of a broader wave of attacks on oil and transport facilities

across the Middle East. Iran warned oil prices could surge as

high as $200 a barrel.

S&P 500 airline stocks, which are sensitive to

crude oil prices, are on track for their biggest monthly losses

in a year.

American Airlines ( AAL ) and Southwest ( LUV ) were down

over 1% each in premarket trading on Thursday, along with cruise

stocks Norwegian and Royal Caribbean.

Energy companies Occidental and EQT Corporation ( EQT )

were marginally higher.

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. and

Israel's war with Iran disrupted oil supplies and sent crude

prices sharply higher, complicating global central banks' plans

to ease monetary policy.

At 4:49 a.m. ET, Dow E-minis were down 262 points,

or 0.55%, and S&P 500 E-minis were down 29.75 points,

or 0.44%. Nasdaq 100 E-minis were down 109.75 points,

or 0.44%.

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

was up 1.01 points at 25.24, while futures tied to the

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

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 U.S. Supreme Court

tore down much of U.S. President Donald Trump's tariff program

last month.

Following a string of credit issues that have surfaced in

recent months, investors are scrutinizing the roughly $2

trillion private credit market, raising concerns over loan

performance and borrowers' ability to manage elevated interest

rates.

Glendon Capital Management said private credit lenders such

as Blue Owl are obscuring weaknesses in their

portfolios, according to a Financial Times report.

Morgan Stanley limited redemptions at one of its private

credit funds on Wednesday, and JPMorgan Chase reduced the value

of some loans to private credit funds.

Shares of Blackstone dropped 0.6%, while Blue Owl

lost 0.8%.

Bumble jumped 24% on Thursday after the dating app

operator reported fourth-quarter revenue above 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.