Commodity Capsule: Brent crude oil extends weakness for second straight day | Watch video

Oil prices fell on Wednesday as weak Chinese trade data spurred fears of slowing demand in the country

Oil prices reversed all gains made earlier this week on the back of supply cuts by the OPEC.

Brent crude futures hovering $76/barrel, while US WTI crude near $71.50/barrel

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Gold prices moved little as markets uncertain ahead of an upcoming Federal Reserve meeting.

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Spurred some bets that the Fed will lack headroom to keep raising interest rates

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