Oil prices slide under $US45 per barrel

In afternoon deals on London's InterContinental Exchange, Brent North Sea crude for delivery in January fell to $US44.87.

New York light sweet crude for January dived to $US46.42 - its lowest level since February 2005.

Wall Street fell sharply at the open after a weak private employment report stoked concerns about this week's official November jobs data and a darkening economic outlook.

The US private sector lost 250,000 jobs in November, the largest decline in six years in a further indication of a weakening labor market, according to the ADP National Employment Report.