Brent crude falls below $100 a barrel for first time in month as European gas prices drop

 Brent crude fell below $100 a barrel Wednesday for the first time in a month, extending losses for a third consecutive session amid diplomatic efforts to resolve the US-Iran conflict.

The international benchmark declined $4.90, or 4.73%, to $98.70 a barrel as of 1615GMT.

US benchmark West Texas Intermediate crude fell $4.26, or 4.43%, to $91.85 a barrel, its lowest level in about three weeks.

European natural gas prices also declined, reversing earlier gains.

Dutch Title Transfer Facility futures, Europe's benchmark for natural gas, dropped 4.59% to €87.40 ($98.10) per megawatt-hour after trading above €93 earlier Wednesday.

The energy price declines followed Democrats' victory in Tuesday's US midterm elections, which gave the party control of Congress, as Qatar and Pakistan continued diplomatic efforts to ease tensions between Washington and Tehran.