The price of oil has risen to start the year after Iran sent a warship into the Red Sea. Brent crude oil has risen 2pc in early trading toward $79 a barrel as tensions escalate in the vital shipping route. Iran dispatched its warship in response to the US Navy’s sinking of three Houthi boats over the weekend. The US Navy said it came under fire as it responded to a distress call in the Red Sea. Attacks by the Houthi rebels in Yemen have forced shipping companies to send their vessels around the south of Africa rather than through the waterway linking the Arabian Sea with the Mediterranean Sea via the Suez Canal. Iran’s Alborz…
