Russia’s ruble slumped toward a record low as oil’s unabated retreat choked revenue of the world’s largest energy exporter at a time when the economy is caught in a recession. The currency has fallen almost 8 percent against the dollar this year, bringing it to 79.93 per dollar by 12:17 p.m. in Moscow, within 0.2 percent of the all-time low it touched during the financial turmoil that gripped Russian markets in December 2014. Brent crude, used to price the country’s main export blend, headed for the lowest level since November 2003 as a global supply glut worsened. “Since there is no conviction on the oil slump coming to an end, its hard to see the ruble regaining momentum,” Ivan Tchakarov, an analyst at Citigroup Inc. in Moscow, said by e-mail. “At the same time, we still don’t seem to detect panic in the foreign-exchange market,” which makes an intervention […]