The most common and most likely answer to this crossword clue is the 4 letter word MANA
I've seen this crossword clue in The Times
M
A
N
A
Buddy explains!
The straight part
We know that "Magical power/weaver in story spoken of" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case magical power/weaver in story spoken of = mana.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does MANA mean?
MANA noun- Power, prestige; specifically, a form of supernatural energy in Polynesian religion that inheres in things or people.
- Magical power.
- A monetary unit of ancient Greece and the Middle East, originally equivalent to the weight of a mina of silver.
- A unit of weight of varying value used in the ancient Middle East, especially Babylonia, Mesopotamia and Egypt; also an ancient Greek measure of weight equivalent to 1/60th of a talent.
- One of the South and East Asian birds of the starling family Sturnidae.
- Food miraculously produced for the Israelites in the desert in the book of Exodus.
- (by extension) Any boon which comes into one's hands by good luck.
- The sugary sap of the manna gum tree which oozes out from holes drilled by insects and falls to the ground around the tree.http//www.museum.vic.gov.au/forest/plants/gum.html