Is there any way to find heating oil futures in USD? Yes, there are many ways available on the internet. However, to make this research task easier for you, we will provide you with that answer in this article! But to give you a clue we will tell you that it is an API for commodity data.
Heating oil is any petroleum product or other oil used for heating; a fuel oil. Most commonly, it refers to low-viscosity grades of fuel oil used for furnaces or boilers for heating homes and other buildings. Home heating oil is often abbreviated as HHO. Most heating oil products are chemically very similar to diesel fuel used as motor fuel, but motor fuel is typically subject to higher fuel taxes. Heating oil is commonly delivered by tanker truck to residential, commercial, and municipal buildings and stored in above-ground storage tanks located in basements, garages, or outside adjacent to the building.
Heating oil consists of a mixture of hydrocarbons derived from petroleum in the range of 14 to 20 carbon atoms that condense between 250 and 350 °C (482 and 662 °F) during oil refining. Heating oil condenses at a lower temperature than petroleum jelly, shoe polish, candle wax, and lubricating oil, but at a higher temperature than kerosene, which condenses between 160–250 °C (320–482 °F). Heavy hydrocarbons (C20+) condense between 340–400 °C (644–752 °F). Heating oil is primarily used in urban areas of the northeastern and northwestern United States and also has a strong market presence in rural areas. Most of the Northeast’s heating oil comes from Irving Oil’s refinery in Saint John, the largest oil refinery in Canada.
Now finally, if you want to get heating oil futures prices in USD, the best way is to use Commodities-API!
How to obtain heating oil futures prices in USD using Commodities-API?
In case you didn’t know, Commodities-API is an API used by thousands of investors or entrepreneurs who need to find prices of commodities-API. Its name perfectly explains its function. “Commodities” because it offers commodity prices and “API” because this platform is an API. And like all APIs, this system will be like a bridge, a connection between the user and the main stock exchanges in the market. Some of these examples are the Tokyo Commodity Exchange (TOCOM), Chicago Mercantile Exchange (CME), Euronext and of course, all the stock exchanges belonging to the CME Group.
This system supports commodities such as the most famous minerals, wheat, corn, coal, rice, coffee, oil and heating oil. These are some examples, the list is much longer and more extensive. In addition, more and more products are frequently added. The prices that are delivered are mostly spotted, but Commodities-API also works with futures prices!
In your case, you are looking to obtain prices in USD, the official legal tender of the United States and the most famous in the world. But it is not the only one that it offers, if for some reason, you want to use another legal tender, rest assured that you will not have any problem. Any questions you have, send a message to Commodities-API support!
Also published on Medium.