Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia.

On today's show, US President Donald Trump has told aides to prepare for an extended US Naval blockade of the Strait of Hormuz. That's according to the Wall Street Journal, which says Trump has determined that this is a less risky option than resuming bombing or extracting the US from the conflict entirely.

The UAE's shock decision to exit OPEC has blindsided its partners of six decades, leaving the cartel fighting to stay relevant in a fast-shifting global oil market.

And UBS, Santander and Deutsche Bank all reported first quarter earnings that sailed past estimates.

Today's guests: Bill Farren-Price, The Oxford Institute for Energy Studies, Head of Gas Research; Raja Akram, Deutsche Bank, CFO; Håkan Samuelsson, Volvo Cars, CEO (Source: Bloomberg)