guy: european airlines that to adopt u.s. style rules to have pilots in the cockpit at all times. francine: the risk in the middle east versus the oversight in the oil prices. guy: cameron beats miliband in the first major televised debate. good morning. you're watching "the pulse." here in london. i'm guy johnson. francine: we begin with the

turbulent oil markets as saudi strikes continued overnight. investors are wearing the potential for destruction with shipments to the middle east . guy: to get all angles covered, we are joined by elliott gotkine. and tim choices as well. and jason goodell on set. elliott, let's start with you. give us the latest. elliott: the bombinb rg raids have continued into friday. they will continue until objectives have been met. they are not crystal clear exactly what the saudis are aiming to achieve. at first glance, it would appear that they want to bomb the sh iites rebels -- to get them back to the negotiating table. at the same time, the saudis

seem to be determined to ensure that the houthis do not overrun yemen. they want to prop up the internationally recognized government and they also want to ensure the instability we have been seeing in yemen does not pull over the order into saudi arabia for the rest of the region. francine: tell us more about the contact with the un security council. elliott: we understand from two arab diplomats that feelers have been put out to the security council to look at the possibility of some kind of arms embargo on yemen. this would target weapons that may or may not, that maven destined for the rebel groups rather than security forces that are supportive of the president. there also talks that if you do get some kind of embargo, having international observers on the southern coast to enforce it.

but it is very early stages of the moment. behind all this is the containing acquisition that iran is -- accusation that iran is behind the events of the rebels. they want to ensure that more advanced weapons or replenishment of weapons that have been destroyed do not find theire way from iran to the rebels to prolong the conflict and lead to some kind of route invasion that would put the rebels for many years at a greater advantage than they are right now. francine: think you so much. our middle east editor, elliott gotkine. guy: let's bring in our energy managing editor. jason. good morning. tim let me start with you. what can we take from what is happening in yemen and price into the commodities complex? how do i relate one to the other?

because yemen it is not a biggest order but on the other hand, it is very important when it comes to the shipping lanes. tim: but it is also important regionally is a big concern. in the oil market is looking at what happens, may be something more broadly. when you look at it historically, we have not been big disruptions to shipping. it is not a big producer. the regional concern seems to be the big issue there. francine: meaning there is a concern that - that's why they're being so hard hitting them. jason in terms of high city oil market -- we have been this afternoon over days and weeks -- they are sitting on a lot of oil. we may be close to an agreement where the embrargo lift on crude. what is the market going to look like? jason: the market has been under pressure. the iranians if they get

sections relief, would be able to put a surge of oil into the market that is already oversupplied. i think that is the biggest event we face over the next week or so, whatever happens with the sanctions on iran. guy: let's pull the stories together because you have a shia-sunni conflict in yemen. then you have the sunni conflict over nuclear discussions. can i keep these things separate? tim: the oil market is comfortable trading within that range. the market seems to want to be trading around those ranges. this week, it's selling off today. things like you'll be comfortable and to we get some clear sign that the glut is not going away and iran is coming ba ck. then we will really see some action. francine: when do think that will be? i terms of timeline, has it

ever beenn a difficult predict the price of oil? opec completely dormant. jason: i have never found it easy to predict the price of oil. a week ago, the issue we were facing is what happens if inventories philip in the united states? the -- pfill up in the united stations? these injections of political risk will raise volatility. francine: what is your forecast? jason: we have a forecast of 50 on brent. oil will move to 68 next year. guy: what would happen to the price if that iranian crude were not to find its way into the market? say the conflicts in yemen somehow mingles with the negotiation and we do not get the deal done on the nuclear front. bakc that supply out -- back that supply out for me.

tim: we've seen a five dollar contraction in the price from the time the market began to anticipate -- three weeks ago. that is what we are facing, a $5.000 moved to the upside. tim: we are not down to $100 anytime soon. the market will be fundamentally oversupplied as long as u.s. oil continues to flow, there is still going to get it to be too much oil. francine: what is demand like from china? we talk about the u.s., inventories and in the conversations we are having about oil, china seems to be forgotten. jason: chinese data is mixed. the pmi data is weak. the last published data is 49.2. form a look at the demand for refined product in january and february, just for the chinese new year, we are up 6%. that looks quite healthy. i think chinese cement could

surprise to the upside this year. guy: do they have the storage capacity to carry on? reports this week suggesting china is getting to get to the limit of its storage capacity. if you get to the limit, you will not buy any more. jason: i think the reports you are referring to are talking about the strategic component -- strategic petroleum. something may have been building for a rainy day fund. guy: if that buyer or taken out of the market, what impact would that have? tim: it cannot be a good one. guy: it depends if you are short or long. francine: think you so much. -- thank you so much. we'll talk about the longer-term future. guy: what else is on our radar this friday? investigators of search the apartment of the german wings copilot looking for clues to confirm suspicions that he delivered caused tuesday's crash which killed all 150 people on

board. authorities of the crash site are rushing to find the data recorder which tracks changes made by the crew to the controls and could help confirm the findings on the voice recorder -- that the copilot brought down the aircraft. francine: david cameron came out in front of ed miliband in the first major television event in the u.k.'s major television campaign. both men were questioned by interviewer jeremy paxman and the audience. "the guarding" found 54% of you are saying that cameron one. kay buehrle was there. guy: nigeria points for a new president tomorrow. goodluck jonathan is christian is facing off the endsagainst a dictator. the campaigns have been

dominated by a slowing economy and the war against militant groups, boko haram and others have killed 1000 civilians this year. francine: coming up, changes in the car to airlines in canada and europe. they will adopt a u.s. requirement that a pilot cannot he left alone in a car hit. we will talk about cured implication for commercial aviation. guy: we've at 10 of questions this morning. would you become to go flying with the european airlines that does not change its rules? let us know your thoughts on this. we will take a break. back in a couple minutes. ♪

francine: welcome back to "the pulse." live pictures from the bundesbank conference. mark carney is speaking. we have stanley fischer and the head of the wix bank. guy: last time we will hear from carney before the general election. he's -- basically until we get posts election possible post formation of the government. carney: when there starts to be a market adjustment because we are aware that all of the reforms we have made on the liquidity side had pushed liquidity risk into the financial system, into the private financial system as

posted on solely central bank balance sheets. but that has not yet fully been price in. at a minimum we have a transition to more appropriate liquidity spreads. but potentially in overshoot because these dynamics. so, from a macro credential, -- it's of interest because i'ts now a core source of financing for the global economy. that is a good thing because it supplements the bank but it has been resilient and be there in tough times as well as good. and that's where we're looking. i'll finish with the banks into characterize this as -- andre raise this in his remarks. the load bearing capacity of the state. the question around to be to fail is about removing this reliance on the state providing what in effect is a subsidy to the largest banks of the world.

it'as a heads i win, tails i lose. it promotes excessive risk-taking of those institutions. what we have done with -- leadership through the fsb at the g-20, we have an agreement -- a proposal that was endorsed by leaders for the loss absorbing capacity which is to use debt to have a prepackaged resolution in these largest and the touche and. now, i'll finish with this. there are fewest advantages that one is it effectively increases the capital, the loss of zoran capacity -- the loss absorbing capacity in the bank. but the second thing is it changes the incentive. it eneds tds the free ride that creditors had in providing debt to banks.

the of the subsidy the state had given to u.k. financial institutions has fallen from 140 billion pounds puryear to about -- per year to about 10 billion pounds. the riaatings agencies have now removed the sovereign uplift for major banks because they can see where this is headed. it is imperative we finish this off this year in order that we use debt to change incentives to not just give banks that extra push -- cushion of capacity when they fail because sooner or later somebody will -- hopefully not on our watch. but also, the, because the incentives of the debtors ahve change, they will prompt action earlier which is what you wanted order to avoid that value. so, those are three ways you look at it from an fsb perspective.

host: carney already mentioned that the -- is even more worried about debt than the fsb. indeed, t he most recent annual report -- francine: that is an interesting panel that is going on at franklin. you can see the fed fisher. mr. carney there. one of the last time we will hear from mr. craarney before the election. from march 30, he is not allowed to speak because the election is on may 5. what's he going to do? guy: time for holiday. what central banks are thinking about -- the price of crude. brent trading shopping to the downside. this following the bounds we had generated by the yemen attacks. 57.98 is where we are trading on

that. the nymex contract just north of 50, 2.5% percent. francine: we're back with jason gammell. before the break, we were trying to figure out the short-term implications of a possible more oil coming on from iran. and also these airstrikes in yemen. for the year, you expect a price of 50. what happens after that? jason: we are already starting to see better demand outlooks for china, the united states europe. thatl growth in demand by the fourth quarter starts to influence the market. more importanty, u.s. production is likely to peak in the second quarter. i think we have a much more balanced market by the time we get into 4q, setting up for a decent fundamental rally into 2016. guy: a decent fundamental rally. we are not going back to highs, are we? so, once you get supply and demand back into balance, what

is the obvious price? there is an awful lot as torch -- storage needs to be worked out before we get a true reflection of what that looks like. jason: the inventory situation does mean you have a very muted recovery initially. the fourth quarter coming start cleaning up, and it is going to push into 2016. i think the big question is -- what type of deflationary cycle do we see in this supply chain? if we do not see it deflationary cycle, i think we can get back to 100 but it will take a couple years. if we see cost producing oil come down by 20%, maybe we are dealing with $85 rent environment long-term. -- brent environment long-term. francine: when we will have -- when will we have more clues? jason: as companies report earnings in july. it is going to be more full on. -- more prolonged. guy: i think it is interesting.

what is the marginal cost of production for u.s. shale type oil? we get back up to 80, that stuff is economic. you wonder how saudis react shared if the idea is to get them out of the market, we are back where we started. jason: it's a pretty wide range. the best shale can drill down to 55 or 60. if we are looking at u.s. production going over one billion barrels a day, -- a billion barrels -- a million barrels a day -- it is a fair point. as you get to 80, you have that feeling from surging production. francine: what do you think the saudi will do -- release more oil? is it a standup? jason: the saudis are going to maintain the market. let the market decide.

francine: they give so much for all that. the senior alan is -- the senior analyst. guy: we are following details of the gmeerman wings crash. a commercial airline would not be left alone in the cockpit. would you fly an airline that does not adopt these new rules? ♪

>> has not been touched by a single -- the training of our pilots. francine: speaking about the german wings plane crash. guy: in a twist, prosecutors suspect the copilot to liberally steered the jet into the mountain after locking the captain out of the cockpit. airlines -- many are implementing changes. here is more from caroline hyde. two people in the car at pittall time -- in the cockpit at all times. caroline: they are taking a leaf

out of their book. we are seeing regulator starting to try to understand whether they should be implement it in europe.t e the civil aviation authority in the u.k. is discussing with the european safety nations and whether they should implement this two people at all times in the cockpit. the german aviation association is also discussing. australia as well. but people have left ahead of the game.= monarch easyjet version thomas cook are leading the charge in terms of implementing these rules. there we can air shuttle and air berlina and air new zealand says they will put these plans in place. a number of irish carriers had already taken a leaf out of the u.s. book. air lingus already has this rule. and canada'as

porter. these companies are getting head of the game while the search continues for the black box. francine: at the same time they are investigating the copilot. have they found out anymore? caroline: we understand the personal life is under the microscope. it seems to be a relationship that was difficult with his girlfriend. that played a role in his apparent decision. they searched his home. they found things by dusseldorf police. this is soul-searching. we had a from the two big additive of lufthansa. when we train our problems we cannot worry about this. they have to have an assessment. assessment. . soul rushing for the airlines as to whether they take into account the pressure that some pilots and their mental health. guy: coming up, david cameron and ed miliband have a tv event

last night. let's not call it a debate. we'll analyze the performance is when we come back. ♪

francine: welcome back to "the pulse" in lodon. -- in london. let's have a look at equity markets. a lot of the tentativeness we saw yesterday not translating into mainland europe. the ftse down 0.2%. questions on oil and interest rates and greece. we've not heard that much about greece guy: after such a great run, we had a down week. we are going to next week is quite a lot of things happening. oil is backing off a little bit.

for the all st-- the oil stocks it's great, but the rest of the market does not react well. currencies, we are backing off the 1.1 level. it is really about the payroll number that comes out friday. but you cannot ignore greece. francine: that jobs report on good friday. a lot of people will be off. guy: not you and me. francine: here are' bloombergs 's top headlines. guy: saudi arabia is continuing airstrikes. continuing to bob the capital -- bomb the capital. a spokesperson says that the strikes will continue as long as necessary. arab nations have reached out to the un security council asking for an arms embargo. francine: the bank of japan key inflation rate ground to a halt as consumer shopping slumped.

it stripped out last year sales tax increase to show inflation at zero. the boj has says that any drop in prices will be temporary and will not reach -- stop the bsa from reaching its inflation targetank. . -- stop the bank from reaching its inflation target. guy: more people may be trapped in the rubble. fire broke out in an adjacent building. 100 firefighters were sent to the scene. francine: no uk financial regulator has been heavily criticized -- that triggered a selloff in the shares. the 83 page report into the incident says the fca created a false market in insurance shares and had no emergency plan. guy: quite embarrassing. that was the first of four election related -- let's call

it events. events? with prime minister david cameron and the labor leader ed miliband. francine: he was more is anna edwards. it wasn't a debate. anna: a media set piece. francine: everyone wants to know who one. anna: you have the spin doctors after the event saying their man did. rudely put, the poll showed that cameron had won 54% and 46% said miliband won. there were some promising developments for miliband. when they were asked who would be the best prime minister, 1% said miliband. that is not a big gap -- 40% said miliband. getting to what we learned about the two men yesterday, a lot of the questions around david cameron prime minister has and

how in touch with ordinary people is he? one of the big criticism coming from labour has been the used of zero our contracts for people to work under. cameron was asked as you live under a zero our contract? cameron: if you are student and you want to do some part-time work, zero hours contract work for you. that is why we have not outlawed them. what we have outlawed is exclusive zero hours contract. no, i could not live on one of those. anna: that is the criticism level the ed miliband surrounds how suitable is he to be prime minister, how state and like izzy? -- is he? he comes behind david cameron. he was quizzed a lot about how he would perform in a room with vladimir putin. jeremy paxman gets to this point. miliband: mi tough enough? hell yes.

what i want most is to be you rself. that is what i am. people have to decide -- do they want my ideas my principles one is to the to not just to president obama but rupert murdoch, the energy companies, the banks, fighting for ordinary people? anna: trying to prove he is prime minister material there. guy: any ideas? any sense of them going to do something? anna: i spoke to the institute of economic affairs yesterday about the gap in various plants we heard so far. we have not got the full benefits of. we are getting the drip feed of economic policy for many parties involved. a run conservatives, people wanted to know what they are they going to cut. which part of the spending budget are they cutting? which bit of the welfare budget? here is what david cameron said. premises cameron: that -- prime minister cameron: that breaks

down into 12 billion and welfare and five alien from cracking down on evasion and aggressive tax avoidance. when it comes to the welfare, we have identified for instance freezing in work benefits like unemployment benefits for two years to raise some of that money. but the 12th billion -- jeremy: 10 billion is which you have yet to cut. cameron: this was well within the range of what we can do if we continue. jeremy: do you know where these cuts will fall? i do not want to be rude, but do you know and you are not telling us or do you not know? camerono: we know there will be difficult decisions:. we have to go through every part of the budget. anna: we still did not know whether those welfare cuts are going to come from. maybe we will know by may 7. maybe we dowon't. on ed miliband's part, what did

we learn? maybe more on his policy on your. miliband: whether you want to tackle terrorism or -- you have got to be an outward looking country. i have said this is a transfer of power from britain to the eu. we would have a referendum. that is not lucky to happen. that is what leadership is about, and what your priority is. i do not want us to leave the eu. why would i plunge the country into two years debate about something i do not want to see happen. anna;": he could not rule out a referendum under labour. he did not expect to have one. he does not think there will be a transfer of power to the u.k. and the rest of the eu. but he would hold one if that were to be on the table. francine: it was quite lively. anna: it was lively on twitter. guy: it was more lively on twitter. anna: they have the #battle for

number 10. 94.7% of uk twitter traffic about television was about this. it w monopolizing theas tv world. in terms of who came out on top on twitter, cameron got more mentions than miliband. the most tweeted moment, the clip on vine, at the end, jeremy paxman said, 'are you ok ed?" ed said, " are you?" francine: i thought it was mean. a bit patronizing. guy: there was concern about the interviewer's political affiliation. francine: they were interviewed -- is it open? who they support? guy: kind of. anna: they've alluded to

it. francine: i'm excited about the election. guy: i do not think it is really gotten going at. i am looking for that week before the scott's selection were suddenly all hell breaks loose. francine: i was on twitter. that was highly entertaining. anna edwards with the politics show in an hour and 20 minutes from now. guy: nigeria as a country at a crossroads. presidential elections could determine whether or not the largest african economy in africa achieves its potential or dissented to violence and corruption. francine: kevin sirkin has been to nigeria to research his new book which is out this week called "frontier exploring." here's his take what is at stake. kevin: nigeria is that a real

crossroads at the moment. this is a country that had the fastest growth this century it has he come the biggest economy over taking south africa on the continent. if year end projections are to build, this will become the third-biggest nation on the planet overtaking american fiv by 2050. all of this give it the credentials to become the next india. 's election is pitting north against south caret from the south you have good luck jonathan from the pdpd. pdp has never been out of power since the military handed over democracy in 1999. the north candidate is bouhari, and ex-dictator from back in the 1980's and he has he come the voice of anticorruption and this throng arm -- the strong arm in tackling boko haram. the governing party in nigeria split. that was caused because the

leader, goodluck jonathan, did not hand over leadership of the party to the north. nigeria is a country where there is a very delicate balance between north and south. roles are west and alternated between the north and south. the leadership of the government parting is no different. the second point was when the former central bank governor challenged the government's over corruption. the thirds point was oil's collapse which had a major affect on nigeria, which relies on oil for 90% of its export revenue. after that, the worsening situation with boko haram attack, which caused the delay to the election on february 14. to an instead, we are seeing the risks before our eyes. there has been a massive investor x it is from nigeria. -- exodus from that jury. it was one of the favorites of emerging markets the year ago. how you the month of investors pulling out their money.

it is basically because first of all, oil is bad news for the economy, and secondly, they do not know which way the election is going to go in terms of the violence that could happen after it. francine: coming up on "the pulse" we will speak to the chairman of the u.s. import export bank. ♪

francine: welcome back to "the pulse." live pictures from the

bundesbank conference and frankly. mark kearney is just answering a couple of questions, a question from the ecb's daniel nouye. mr. carney is only allowed to speak into march 30. -- until march 30. guy: no. it's not. a few days back he was talking about the fact this was finally balance. everybody i talked to said, mark carney must be spitting about this. i think this is the response. francine: he has to do it today because then we get on to the uk election mode. a bank of england governor cannot speak anymore. guy: the pound has reacted a little bit to those comments. back up. this is the cable rate 1.4842 is

where we are trading. we are back up off our earlier low levels. francine: we will keep a quick eye on the bonus make. south korea joins the u.k. germany, and france to support china's the to create a new institution funding infrastructure projects in asia. guy: the u.s. has expressed concern about the governance structure. for more on the export credit landscape and the expansion of infrastructure investment, we are delighted to be joined by the u.s. export import bank chairman. in a bloomberg exquisite, nice to see you on this side of the pond. >> i have election envy. 50 days is such a nice compact period. ours, we've got 19 months ago. guy: the problem with that is it is really dull. you would think it would be compressed and more exciting but it is -- >> i will take a compression.

guy: the wariness of a long campaign. francine: it is the british reserve. i'm putting it out there. now we can focus on business. guy: fred, so aside from the very dull political headlines in the uk, the other thing that is said to be making headlines is the u.k. decision to join the chinese infrastructure bank. fred: the u.s. has not responded well to this. there is no question we need more money for infrastructure. no question in asia in terms of roads, ports, schools broadband, communications we need more. with any of the eighth institutions, look at how they are formed and what will govern them. what the governing structure is. it is not just about money. so how they will look at environmentalists? will it be a fair and open bidding process? will only asian companies get

the upper hand? those questions need to be answered. . i think there are still some questions out on that china has not been the most transparent country. what makes a hallmark of the imf, the world bank. francine: you can change the institutions or influence the people at the top. fred: i will not jump in until i know what the rules of the game are.i think very different approaches. we have some concern. we have been working with china, the united states and 15 other countries on the international working group on export finance. been at it for two years. the progress has been slow and steady. we say it is productive and engaged. but it is slow. we need to pick that up.

there is a lot of infrastructure built in the world. a lot of countries want to get into the acting create the jobs in their own country. how that is done make sure there is a level playing field that we take care of the environment and other areas. those are important questions. guy: the uk has done it unilaterally. fred: that is my read of the situation. guy: was that a mistake? do you think there should have been a more coordinated response? fred: you know, i would leave -- i do not know whether it should be more coordinated or not. i was surprised that the move, surprised at the chain of events. i would say we would like to make -- take a more sobering view before we reach that conclusion. i think those questions are large questions to have to be answered, and i have not heard a lot of response from the asia and research investment bank on that to date. i have some skepticism. and partly that is informed by

working with the china ex-im bank. the large trade institutions in china that are not as forthcoming on the pacific of how they do their work. francine: fred when you look at trade, -- we talk about currencies. we talk about the strength of the dollar and the impact it would have on emerging economies in general. how much do you worry about that? fred: currency is not as big a concern. what i worry about is the fact that 15 years ago, almost all covered by the oecd very transparent. in 15 years, it has dropped from 100% to years, it has dropped from 100% to 1/3. so, what is important is to get china into a broader agreement. i do not know what that agreement will look like. it does not have to be the way to oecd has done for 20 years. but we need a new regime so that

companies compete on a level playing field and we do not find finance having a those kinds of investments. guy: you have talked -- you reference the wild west. it used to be rules-based. now it is the wild west. when you look at what has come out of washington, is there a reason why that has happened? is t transpacific partnershiphe a force for good in the story you are talking about? if so, why aren't we more inclusive. it seems like more of a geopolitical creation that a rules-based trade, pro trade structure. fred: when the united states did nafta in the 1990's, with there were a dozen free trade agreements. with 40% of the world economy in the asia region in the 12 countries of the transpacific partnership, it is critical that we find a common operating.

the united states is thew most open market, the lowest tariffsay . we want to get it even so we have a greater floor trade. consumers, boaters, citizens get the best product at the best price. guy: if the cpp, the way of creating law and order in wild westt he?? fred: the wild west on the finance side. but there are many various to american product and services getting into many countries. tpp re evena set out. it also corrects a lot of the concernslly b raisedy nafta. which is why that is an important trade agreement. we want to work on t-tip next. francine: when you talk about the body that would incorporate china, this is be something created -- the reason why we have not had that yet is because china's got complicated in that

that they want to be seen as the ones to initiate this kind of stuff. fred: there are two or three things going on. china on one side says we are a poor developing country and we need special rights. and in the next step, they are the largest exporter in the world and the second-largest global economy. so it is at times i do believe -- i am not trying to be critical -- but depending on what they would like, they take a different stand each time. the point is they are the largest exporter in the world. and they cannot stay outside of a rule-based system and be a leader in a world leader as they are. guy: let's go back to, again, back to the wild west. fred: i know you like cowboys and indians. guy: there is no denying. the financing story is obviously one where you have different countries around the world. we pointed to china. is it just china? which countries which you put at

the top of the list in terms of the ones that are using export finance inappropriately? fred: china is at the top. russia is up there when they try to sell nuclear power around the world. they sternly to not do that in a transparent way. they will provide 100% financing. equity investment. things that the united states, japan, france, that is not how we do business. russia is one. guy: you left the u.k. off that list. fred: the other issue besides -- the financing is also -- a lot of what is called untied financing were japan makes a gift to a poor country. no strings attached, but big surprise -- six months later, they get a large contract for rail more mining equipment. i think it is part of soft diplomacy in terms of helping on the commercial side.

something united states has not been doing much of the rest of the world does not do. francine: when you say that, you expose -- there is no way to deal with it. fred: if it is more transparent, that would be one way. what kind of loans are being made? we can see what those linkages are. the companiesn can think about what other remedies there might be. guy: is it a race to the bottom? fred: this is my concern. guy: how does the u.s. -- in the race to the bottom, where does the u.s. finish last? fred: no we are the. secondlargest exporting country in the world right now after china . . we had fallen two thirds for a number of years now we have moved to second. we will go back to first because of our products and services that a will-based system on finance to make sure there is not a race to the bottom. i was in south africa. they bought locomotives from the u.s. and china. i asked the rail authority what kind of financing terms will china offers so i can make sure

we are competitive? he said they said, what would you like,, 10 years, 15, 20 years? that is a very different way of doing business. that is not how a rules based system operates. francine: thank you so much for joining us. the chairman of the u.s. export import bank. guy: that is at four "the pulse ." the talks go for this weekend in europe. " surveillance with tom keene" next. francine: we are back in two next hour. we will talk a lot about oil. guy: that brings us to our twitter question of the day. some european airlines have already and some are adopting u.s. style rules, a single pi cannot be left alone in thelot cockpit. would you fly with an airline that does not change it rules?

tweet u we will take a breaks. ♪

>> this is bloomberg "surveillance." tom: a sunni arab coalition continues its assault on yemen. reporting from iran talks in

switzerland. will the dollar strike resume? greek banks running low on cash. this is bloomberg "surveillance," live from new york. joining me, brendan greeley, olivia sterns is off. our top headlines. brendan: investigators in germany trying to learn why andreas lubitz decided to commit suicide. he was the copilot of the jet that plunged into the french alps tuesday. investigators believe he intentionally crashed the airbus a320 into an on-site -- into a mountainside. officials are searching for clues about his emotional state. setting up a family assistance center in marseille.