The ruble and Russian stocks pared weekly gains as falling oil prices threatened to undercut the nation’s budget revenue, stoking concern assets have climbed too far. The currency retreated from the strongest level this year, trimming its third weekly advance to 1.7 percent by 6:51 p.m. in Moscow. Brent dropped 3.8 percent on Thursday after a nuclear pact sealed between Iran and world powers stoked speculation supplies may increase. Markets in the U.S. and U.K. were closed for holidays on Friday. The ruble’s strength amid weaker oil prices risks exacerbating a budget shortfall that’s forecast to be the widest since 2010. In ruble terms, the price of a barrel of Brent is near the lowest in four months, complicating the government’s revenue plan as the economy of the world’s biggest energy exporter heads for its first recession in six years. “For the Russian economy in its present state, there’s […]