U.S. Treasury Secretary Scott Bessent said "absolutely not" when asked Thursday whether there was any price point at which he would tell President Donald Trump the war with Iran had become unaffordable.

Bessent made the remark during a television interview as oil prices surged above $100 a barrel amid fears the widening conflict could disrupt shipments through the Strait of Hormuz, the narrow Persian Gulf waterway that normally carries roughly one-fifth of the world's oil supply, according to reporting by Reuters and the Associated Press on the war's impact on global energy markets.

Tanker traffic and shipping insurance in the region have been affected as attacks and security threats tied to the conflict raise risks for vessels moving through the Gulf, a situation energy analysts say could rattle global markets if the disruption spreads, according to coverage by Bloomberg and the Financial Times of the growing oil shock.

Iran has vowed to continue the conflict despite the economic consequences, with Iranian leaders warning this week that prolonged fighting could damage the global economy by choking off energy supplies and trade routes, statements ABC News reported were carried by Iranian state television.

Iranian officials have specifically warned that continued conflict could destabilize global energy markets by threatening shipping through the Persian Gulf and the Strait of Hormuz, according to reporting by the Associated Press on the statements from Tehran.

Meanwhile, the financial cost of the war to the United States is already mounting rapidly, with Pentagon officials telling lawmakers during a congressional briefing this week that the first six days of the conflict cost at least $11.3 billion, Reuters reported Wednesday, citing officials familiar with the classified discussion.

Reuters reported that the estimate largely reflects the cost of munitions and operational expenses during the opening phase of the campaign and may not yet include longer-term costs such as replenishing weapons stockpiles, sustaining deployments, or expanding military operations.

Earlier estimates illustrated how quickly the spending mounted during the opening strikes, with the Center for Strategic and International Studies approximated the first 100 hours of operations cost roughly $3.7 billion, or about $891 million per day.

Trump has downplayed concerns about the economic fallout, arguing that defeating Iran's leadership and nuclear ambitions outweighs temporary spikes in oil prices and other economic disruptions.

Trump also said in a Truth Social post highlighted by ABC News that rising oil prices can benefit the United States because the country is the world's largest oil producer.

He also warned that Iran may attempt to weaponize energy markets after suffering military setbacks, telling Fox Business the regime is trying to create "economic chaos" by threatening shipping routes and energy infrastructure.

Bessent said the administration is exploring measures to stabilize global oil flows, including potentially allowing additional Russian crude to reach global markets in order to increase supply and ease price pressures, remarks that Mediaite reported during coverage of the Fox Business interview.

He also said the United States is supporting efforts to restore shipping confidence in the Persian Gulf, including backing a maritime insurance program for vessels transiting the Strait of Hormuz after insurers pulled coverage because of the conflict, according to Fox Business reporting on the interview.

Bessent added that the United States and its allies are also examining potential naval escorts for commercial tankers traveling through the strait to ensure oil shipments continue moving through the critical corridor, according to reporting by The Wall Street Journal on the administration’s response to the disruptions.

Several lawmakers and policy analysts have raised concerns about the rapidly rising cost of the conflict.

Rep. Brendan Boyle of Pennsylvania, the top Democrat on the House Budget Committee, said lawmakers need a full accounting of the war's cost and asked the Congressional Budget Office to analyze the financial and economic impact of the conflict, according to reporting by Al Jazeera on congressional reaction to the spending estimates.

House Minority Leader Hakeem Jeffries, D-N.Y., criticized the spending tied to the conflict and said the administration was committing billions of dollars to military operations while many Americans remain under financial pressure from high living costs, Al Jazeera reported.

Sen. Rand Paul, R-Ky., also warned that prolonged fighting combined with oil prices above $100 per barrel could produce serious economic and political consequences if the war drags on, according to reporting by The Wall Street Journal on congressional reaction to the conflict.

Budget analysts have also warned that the current spending estimates may significantly understate the ultimate price of the war because they do not fully include the cost of replacing precision weapons and missile interceptors or sustaining a prolonged military campaign, a concern highlighted in coverage of the conflict's costs by The Guardian.