Crude rises on Bush decision

Tuesday, Nov. 13, 2001 | 9:43 a.m.

WASHINGTON -- President Bush ordered the government today to boost its emergency stockpile of oil by millions of barrels as a precaution to "strengthen the long-term energy security of the United States."

The Strategic Oil Reserve, which currently has 544 million barrels of oil, is to be filled "in a deliberate and cost-effective manner" up to its full capacity of 700 million barrels, Bush said in a statement. Officials said the decision was not related to terrorism or the war in Afghanistan.

Crude oil prices rose 3 percent on the news.

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