Reuters Light crude surged in Canada and the northern US after an oil-sands upgrader shut for maintenance because of a fire and Energy Transfer Partners LP said it was preparing to place the Dakota Access pipeline into service. Synthetic crude’s premium to West Texas Intermediate futures jumped $1.45 to $4.70 a barrel Monday, the strongest in more than a …

  Bloomberg Oil advanced as OPEC member Libya halted the pipeline from its biggest field, tempering concerns that a surplus in the US continues to expand. West Texas Intermediate futures rose as much as 1.1 percent. Libya’s output has dropped to 560,000 barrels a day following the shutdown of the pipe from the Sharara field, according to a person with …

  Bloomberg Saudi Aramco could have a market value of more than $1 trillion, Sanford C. Bernstein & Co. estimates, after the government slashed the oil producer’s tax burden to attract investors ahead of what may be the world’s biggest initial public offering. The tax cut will increase Aramco’s net income by 300 percent, putting its per-barrel income in a …