Crude oil futures nursed losses for most of the session before settling six cents lower on Monday on concern about Spain's economic outlook.

Crude for June delivery fell 0.1% at $104.87 a barrel on the New York Mercantile Exchange after four days of consecutive gains. Oil futures gained 1.8% in April.

Oil came under pressure early on, falling as much as 1%, after data showed Spain is in a recession. The nation's economy contracted 0.3% in the first three months of the year, a fresh reminder of continued weakness in the euro zone. The data was published as thousands of people across Spain demonstrate against nearly €40bn in austerity cuts.

Sentiment was further dampened after a report showed US manufacturing weakened in April. A gauge of manufacturing for the Chicago area fell to a 29-month low of 56.2% in April from 63.3% in March.

On the ICE futures exchange Brent crude fell 37 cents at $119.46 a barrel.

Among precious metals gold futures nudged lower on Monday and posted a loss of 0.5% for the month of April. A stronger dollar kept the yellow metal under pressure.

Gold for June delivery fell 60 cents at $1,664.20 an ounce on the Comex division of the New York Mercantile Exchange.

Silver for July delivery dropped 40 cents to $31.02 an ounce and for the month fell 4.5%.


CJ

Related share prices