LONDON, March 28: Oil prices fell heavily Wednesday as US crude inventories rose by the biggest amount in 20 months and F r a n c e announced that it was ready to tap strategic reserves to ease market tensions.

New York`s main contract, West Texas Intermediate crude for delivery in May, dived $2.56 to $104.77 a barrel.

Brent North Sea crude for May shed $1.76 to $123.75.

The US Department of Energy said the country`s crude oil inventories jumped by 7.1 million barrels last week three times the amount expected.

`The largest weekly build in crude stocks since July 2010 was unexpected,` said BNP Paribas analyst Harry Tchilinguirian.

With Western countries` stockpiles high, France on Wednesday said it was ready to tap into its strategic oil reserves to help bring down prices.

Speaking after a cabinet meeting, France`s Energy Minister Eric Besson said: `It was the United States that requested this and France greeted the idea favourably.

We are now waiting for the opinion of the International Energy Agency.

Government spokeswoman and Budget Minister Valerie Pecresse said France was working with the United States and Britain to persuade the IEA to permit them to tap their reserves `to counter speculation on global energy markets.`-AFP