Oil prices have moved higher after Iran sent a warship into the Red Sea in response to the sinking of three ships by the US Navy.
Iran despatched its Alborz destroyer on Monday after the sinking of three Houthi boats over the weekend in the vital trade route, which is being avoided by shipping companies after a series of attacks.
5 things to start your day
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2) Britain cracks down on semiconductor sales to China | Western countries continue to restrict Beijing’s access to advanced microchips
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4) Falling food inflation at risk from looming cost pressures | ‘Obstacles on the road’ threaten to stoke price rises in 2024, warn retail bosses
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