For examples, here is and NBC headline:
"Iran and the U.S. say a Strait of Hormuz deal is close, but one or both would have to back down"
It makes it sound like the US and Iran are close to deal. But the only deal that is being negotiated is between Iran and Oman. The US is not a party to the negotitions.
The deal with give Iran control over all ships entering the Strait, something the US has not agreed to.
So there may be A DEAL in the works, but not a deal that would reopen the Strait. And none of this deals with the Red Sea.