UPDATE 9-Oil drops nearly $1 on economic gloom

* US jobless claims, Wal-Mart results feed economic gloom

* US crude stockpiles high, Cushing at record

* Russia gas dispute, Mideast violence, OPEC cuts support (Updates prices with Brent settlement)

By Richard Valdmanis

NEW YORK, Jan 8 (Reuters) - Oil prices fell 2.2 percent on Thursday as deepening economic gloom and soaring crude inventories in the United States eclipsed geopolitical tensions that have put world supplies at risk.

The decline followed Wednesday's 12 percent drop, which marked the biggest daily percentage decline in the price of crude oil in more than seven years.

"This morning crude was trying to rally a bit, but more (economic) figures kept coming out from the U.S. and they were very bearish indeed," said Sucden trader Rob Montefusco.

U.S. crude for February delivery CLc1 fell 93 cents to settle at $41.70 a barrel, while London Brent crude LCOc1 fell $1.19 to $44.67 a barrel.

Oil prices have dropped more than $100 a barrel since July as a global financial crisis has cut consumer and business energy demand, threatening to shrink total world oil usage for the first time in 25 years.