Red Blooded

When you see blood oozing from a cut in your finger, you might assume that it is red because of the iron in it, rather as rust has a reddish hue. But the presence of the iron is a coincidence. The red colour arises because the iron is bound in a ring of atoms in haemoglobin called porphyrin and it's the shape of this structure that produces the colour. Just how red your haemoglobin is depends on whether there is oxygen bound to it. When there is oxygen present, it changes the shape of the porphyrin, giving the red blood cells a more vivid shade
Source:http://www.theguardian.com/science/2013/jan/27/20-human-body-facts-science