Are you trying to get WTI crude oil rates API on the web for your clients? Get to know this commodities prices API in this post!
West Texas Intermediate (WTI) crude oil is a light, sweet crude oil that is used as a worldwide oil benchmark. It is mostly obtained from inland Texas and is one of the best quality oils in the world, making it simple to refine.The underlying commodity for the NYMEX’s oil futures contract is WTI. WTI is frequently contrasted to Brent crude, which serves as an oil benchmark for two-thirds of the world’s oil contracts based on North Sea oil.
Another benchmark used by oil markets is “West Texas Intermediate” (WTI) oil, which represents oil produced in the United States. It runs on oil from a massive tank and pipeline hub near Cushing, Oklahoma. WTI, like Brent oil, is valued as a light oil, but it lacks the same global reach.
Furthermore, worldwide WTI oil output last year was 89.9 million barrels per day. In 2022, oil output hit an all-time high of about 95 million barrels. The United States is the world’s leading producer and user of WTI oil. In addition to being the world’s greatest producer of oil, the United States imports over 8 million barrels of oil each day, the other being Brent Oil.
Brent and WTI are essentially the world’s two primary oil markets. Brent crude oil is taken from the North Sea, whereas WTI crude oil is extracted in the United States, largely from Texas. Brent is a high-quality light, sweet crude oil mix with a low density and sulphur level.
When considering WTI Oil as a commodity, it is important to remember that these are volatile stock market items, and the main feature of these basic products is that they are interchangeable or “fungible.” So what better way to make them unique again than to combine them with non-fungible tokens, or NFTs, that are specific to your business?
To invest in WTI Oil, you must use Non-Fungible Tokens (NTFs) (NFTs). This digital assets on a blockchain are distinguished by unique identification codes and information. If you want to integrate your clients into the commodities business, they will allow consumers to participate in the value and impact of firms. Now, you can do all this monetary movements of the Market Data by diverse platform on the internet. Today we bring you Commodities-API which, in our reference, is one of the most completes software on the internet today.
What Is Commodities-API?
Commodities-API It is a fully accessible website that may buy commercially available data on commodities such as coffee, cereals, and oils for its clientele. You may purchase them using an API, which you can set up in less than a second before calling the appropriate banking institutions.
How Does The Platform Work?
The ease of use of Commodities-API is one of its main advantages. To accomplish this, take these steps:
-Go to the website and sign up.
-Use the platform to generate an API Key.
-Select the required items and money.
-On response to an API request you generate in the dashboard, the program will provide an API response.
And that´s it! Everything is in order to start giving the data to your clients!
Is It A Secure Website For Their Clients?
Commodities-API uses SSL encryption to safeguard web-to-web interactions. This type of security is used by financial institutions. This API then collects data from the World Bank or financial organizations. Bank-grade 256-bit SSL encryption is used to encrypt and decrypt your connection to the Commodities-API API. This is a data/file encryption mechanism that uses a 256-bit key to encode and decode data or files.
How Unfailing This Software Can Be?
Furthermore, this API gives an excellent online user experience. It can provide typical data in real time with an accuracy of two decimal places and a frequency of 60 seconds. Commodities-API, built on a strong back-end architecture, offers high availability and response times of less than 50 milliseconds for defined API calls.