U.S. gov't to order general sale of emergency crude

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http://olympics.reuters.com/news/newsArticle.aspx?type=topNews&storyID=2005-09-02T164928Z_01_BAU259709_RTRIDST_0_NEWS-WEATHER-KATRINA-STOCKPILE-DC.XML

U.S. gov't to order general sale of emergency crude

WASHINGTON (Reuters) - The Bush administration will order the general release of about 900,000 barrels per day of crude oil from the nation's emergency stockpile on Friday, an action aimed at helping to halt runaway oil prices, an industry source told Reuters.

Also, European members of the International Energy Agency will provide about 1.1 million barrels per day of gasoline supplies, according to the source, who was familiar with the Bush administration's plans and spoke on condition of anonymity.

The duration of both the U.S. crude oil release from the Strategic Petroleum Reserve and the separate IEA gasoline release is unclear, the source said.

Separately, the Energy Department said it will make a "major announcement" related to U.S. energy supplies at 1 p.m. EDT. A department spokesman declined to comment on whether the stockpile would be tapped in a general sale.