It stores crude ancient booze tucked into by setter (3,4)
I believe the answer is:
oil drum
'it stores crude' is the definition.
(an oil drum may store crude oil)
'ancient booze tucked into by setter' is the wordplay.
'ancient' becomes 'old' (similar in meaning).
'booze' becomes 'rum' (rum is a kind of booze).
'tucked into by' means one lot of letters goes inside another.
'setter' becomes 'I' (the person that set the crossword).
'old'+'rum'='oldrum'
'oldrum' going around 'i' is 'OIL-DRUM'.
(Other definitions for oil drum that I've seen before include "Large container" , "Fuel container" , "Container for crude" , "Metal barrel for fuel" .)