Do you want to easily obtain world daily spot prices for crude oil WTI and Brent? If so, you should use this API!
The reality is that raw materials, often referred to as commodities, are the resources needed to generate the wide range of consumer goods we use. The grain we use to make bread, the wood we use to build furniture, and the oil and iron we use to build and power our car engines are some of the most typical examples.
Specifically, from crude oil we obtain many products: such as heating oils, gasoline, diesel and jet fuels, lubricants, asphalt, ethane, propane and butane, as well as many other items used for their energy or chemical content. This is why this type of commodity is in constant demand, and its value is only increasing.
So, if you are currently thinking on trading or investing in this kind of commodity, the best you can do is be up-to-date with crude oil spot prices. Fortunately you can easily accomplish this by employing an API for commodities prices data.
Obtain Data On Crude Oil WTI And Brent, As Well As Many Other Commodities By Using an API
While WTI is the benchmark used for the light oil market in the United States, Brent crude is the benchmark used for the global light oil market, which encompasses Europe, Africa and the Middle East. Therefore, you have to pay attention to both spot prices; if you want to trade or invest in crude oil. An API for commodities prices can easily deliver you this prices since it gathers accurate commodity data from several reputable sources.
This is due to the fact that an API, or application programming interface, is a device that enables two different program types to interact with one another in order to retrieve specific data. Although using an API is the greatest method for obtaining a certain piece of data, you must be aware of which web service has the best API. This is due to the fact that not all Internet-based APIs are reliable. For this reason, we advise using a reliable API that has more than five years on the market; Commodities-API.
Commodities-API’s prices data is collected from more than 15 reliable providers; making it the top choice for investors and businesses who are looking for commodities spot prices.
How To Obtain Commodities Daily Spot Prices With This API
- Create an account at Commodities-API. It’s simple and no-cost at all; also you may select the plan you want to use. This API currently has three plans available: amateur, basic, and professional. Choose the one that best meets your needs after taking into account their differences. If you choose the first plan, for instance, you will receive hourly commodity updates!
- After registration you’ll receive an API key, which you can use each time you make an API call. However, before using it, authenticate it by adding your bearing token into the authorization header
- To obtain commodities spot prices, just select the currency you want to view your pricing in; and then select the commodity symbol you desire (in this case, it can be Crude Oil WTI, or Crude Oil Brent). There are 170 different currencies accessible, so keep that in mind!
- Finally, make the API call and wait for the response.
Related post: Commodity Investing: How An API Can Be Key For Great Results