Oil prices rebounded slightly on Tuesday, after plunging in the previous session, on concerns Middle Eastern supply remains at risk as a diplomatic resolution to the U.S.-Iran war that has disrupted shipments still seems unlikely.Brandon Bell | Getty ImagesCrude prices reversed course on Tuesday after Treasury Secretary Scott Bessent indicated there may be a deal to open the key Strait of Hormuz as soon as this week. International Brent traded 3% lower at $81.24 per barrel. West Texas Intermediate futures lost nearly 4% to trade at $77.22. Both contracts were higher earlier in the day. "We are in talks with the Iranians," Bessent told CNBC's "Squawk Box." "There is a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalized position in this conflict."Stock Chart IconStock chart iconWTI intraday