Through AFP

NEW YORK — U.S. benchmark West Texas Intermediate oil fell 3.0 percent on Wednesday, closing at a new year’s low on concerns over weaker demand.

WTI futures for January delivery ended the day at $72.01 a barrel after data from the US Energy Information Administration showed a surge in gasoline inventories, indicating slowing consumption in the world’s largest economy.

“Gasoline inventories are rising as demand struggles,” said Edward Moya of OANDA Trading…