LONDON (SHARECAST) - Crude oil futures fell on Monday as traders gear up for this week's long line of economic data. Crude oil for October delivery settled 47 cents lower at $74.70 a barrel on the New York Mercantile Exchange. Oil snapped a three session winning streak on jitters ahead of key reports on unemployment, house prices, manufacturing and factory orders this week. Data out Monday from the Commerce Department showed US consumer spending rose 0.4% in July, in line with forecasts. However disappointing data in the last few weeks has underlined the sluggish US economic recovery and cast an uneasiness ahead of this week’s data. Minutes from the Federal Open Market Committee are due today along with house price data. Focus will also turn to figures from the Department of Energy on Wednesday as stocks of oil and oil related products reach their highest levels in almost 27 years. Analysts have pencilled in a further increase in this week's inventory data. Among precious metals gold eked out modest gains on Monday as investors brace themselves for this week’s snapshot on the US economy. Gold for December delivery gained $1.30 to $1,239.20 an ounce on the Comex division of the New York Mercantile Exchange. Silver for December settled flat at $19.074 an ounce while copper for the same month adding 5 cents to $3.43 a pound.

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