Russia’s currency extended its worst start to a year since 2009 as the price of oil fell and Sberbank CIB said a disparity with the price of crude argues for it to be “sharply” lower. The ruble declined 1 percent to 75.4850 against the dollar by 12:30 p.m. in Moscow, the weakest on record based on closing prices. Brent in rubles dropped 1.4 percent to 2,471.7, the lowest since 2010 as the benchmark used to price the nation’s main export blend retreated 3 percent to $32.54 a barrel, an 11-year low. Trading was closed in Russia on Thursday and Friday for public holidays. Data showing Chinese producer prices fell for a record 46 months fueled concern of further weakness in the world’s biggest energy consumer. Russia receives about half of its budget revenue from oil and natural gas sales. While the ruble is the second-worst performing emerging currency over […]