Updates with prices

By Purvi Agarwal and Twesha Dikshit

March 25 (Reuters) - U.S. stock index futures climbed on Wednesday after media reports that the U.S. was seeking a month-long ceasefire in its war with Iran allayed some investor fears around prolonged energy supply disruptions.

The New York Times reported that Washington sent Iran a 15-point plan to end the war. Israel's Channel 12 said the U.S. planned to discuss the plan during the proposed ceasefire.

Pakistan has delivered a proposal from the United States to Iran, and either Pakistan or Turkey could be venues for discussions to de-escalate the war in the Gulf, a senior Iranian official told Reuters. Tehran has so far denied in public that it would negotiate with the Trump administration.

"While we don't envision U.S. escalation going forward, we would also be surprised to see a near-term resolution... There could be a scenario where the combination of a resilient Iran and rising energy prices forces President Trump to escalate, but that does not appear imminent," said Mike O'Rourke, chief market strategist at JonesTrading.

Global markets turned optimistic after the reports, hoping for a breakthrough that could help restore shipping through the crucial Strait of Hormuz. Oil prices sank almost 4%, supporting broader risk appetite.

"Investors should be cautious about assuming a swift resumption of energy flows, but our base case is that they will be restored without meaningful or lasting economic damage," said analysts at UBS Global Wealth Management.

Wall Street's main indexes closed lower on Tuesday as a relief rally sparked by President Donald Trump's decision to postpone strikes on Iran's power network fizzled out.

At 07:02 a.m. ET, Dow E-minis YMcv1 were up 406 points, or 0.87%, S&P 500 E-minis EScv1 added 55.25 points, or 0.84%, and Nasdaq 100 E-minis NQcv1 gained 248 points, or 1.02%.

Shares of futures tracking the small-cap Russell 2000 index RTYcv1 rose 1.28%.

BlackRock BLK.N CEO Larry Fink said oil prices could reach $150 a barrel and cause a "global recession" if Iran "remains a threat" even after the war ends.

The spike in oil prices tied to the Iran conflict has revived inflation concerns, complicating the interest rate outlook of central banks.

Markets are not pricing in any easing from the Federal Reserve this year, compared with two cuts anticipated before the war broke out, according to CME Group's FedWatch Tool.

In premarket moves, U.S.-listed shares of Arm ARM.O jumped 13.3% after the company unveiled a new AI data center chip that is expected to bring billions of dollars in revenue.

Other chipmakers also inched higher with Intel INTC.O up 4%, Marvell Technology MRVL.O gaining 2.8% and Nvidia NVDA.O 1.4% higher.

U.S.-listed shares of JD.com JD.O and Alibaba BABA.N gained more than 3% each after Chinese state media and the regulator urged the food delivery platform industry to end a bleeding price war.

Destiny Tech100 DXYZ.N surged 18% after a report that SpaceX aims to file its IPO prospectus as soon as this week. SpaceX is the fund's largest equity holding.

Other space companies also rose, with Rocket Lab RKLB.O, Intuitive Machines LUNR.O and AST Spacemobile ASTS.O up between 3% and 4%.

Robinhood Markets HOOD.O added 3.2% after the trading platform announced a new $1.5 billion share buyback program.

(Reporting by Purvi Agarwal, Medha Singh and Twesha Dikshit in Bengaluru; Editing by Mrigank Dhaniwala and Devika Syamnath)

((Purvi.Agarwal@thomsonreuters.com;))