VIENNA, Austria -- Oil prices plummeted Friday as the already battered market reacted to unexpectedly high U.S. unemployment figures - the latest dramatic evidence of recession in the world's largest market for crude, according to The Associated Press.

With cold weather settling in parts of the U.S. and the rest of the Northern hemisphere, this time of year is normally bullish for the market. But the weak US jobs report added to the gloom spread by other dire economic data to counteract the usual trend for increased winter demand.

Skittish U.S. employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, according to figures released by the Labor Department Friday. As companies cut down on their work force, the U.S. unemployment rate bolted from 6.5 percent in October to 6.7 percent last month, a 15-year high.

Light, sweet crude for January delivery was down $1.43 at $42.24 a barrel - nearly a 4 year low - in electronic trading on the New York Mercantile Exchange by afternoon in Europe.