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UPDATE 1-Russia expects Iran nuclear deal to be implemented in January

* Iran, powers push ahead towards sanctions relief for Tehran

UPDATE 1-Israeli companies pursuing Egypt gas deals despite call for freeze

* Israeli firms continuing talks with Egyptian side (Adds details, quotes, background)

Europe's diesel market hits crunch month of over supply

LONDON, Dec 7 (Reuters) - Europe's new status as the dumping ground for the world's excess diesel comes to a head this month as mild weather, strong refinery runs and months of building stocks combine.

Russia expects Iran nuclear deal for sanctions relief to be implemented in Jan.

VIENNA, Dec 7 (Reuters) - Russia's envoy to the U.N.'s nuclear watchdog said on Monday he expected that a historic nuclear deal between Iran and world powers would be implemented in January, leading to sanctions relief for Tehran.

Speaker of Indonesian parliament denies Freeport extortion allegation

JAKARTA, Dec 7 (Reuters) - The speaker of Indonesia's parliament on Monday denied seeking to extort shares in the local unit of Freeport McMoRan Inc to ensure a contract extension for the mining firm, a member of the assembly's ethics panel said.

RPT-COLUMN-Big miners accept reality of low commodity prices. Now what?: Russell

LAUNCESTON, Australia, Dec 7 (Reuters) - It may seem like stating the obvious, but top miners BHP Billiton and Rio Tinto have said recently that they expect commodities prices to remain subdued.

UPDATE 1-Devon Energy to buy assets from Felix Energy for $1.9 bln

Dec 7 (Reuters) - Oil producer Devon Energy Corp said it will buy some assets in the Anadarko Basin from smaller peer Felix Energy LLC for $1.9 billion, the latest deal in the U.S. oil patch, which has been hit by a supply glut.

COLUMN-Oil torn between fundamentals and hedge fund positions: Kemp

LONDON, Dec 7 (Reuters) - Successful trading rule No.1: do not enter any significant position until you have worked out an eventual exit strategy.

UPDATE 1-Warehouse blaze sweeps through slum in India's Mumbai

* More than 100 huts destroyed -Reuters photographer (Adds details of fire, reports of death, casualties)

Unofficially official: What OPEC's meeting means for US crude production and prices

Following the drama-filled OPEC meeting, Herman Wang and Brian Scheid detail the twists and turns of its Friday announcement about oil production.

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