Are you wondering if there is a way to get RBOB gasoline futures prices? Well, the answer is a resounding yes! And all, thanks to an API, is in charge of providing commodity prices. In fact, it’s an API for commodity data, a very famous one by the way.
The RBOB gasoline futures contract trades on the Chicago Board of Trade (CME) under the futures symbol RB. While it does not receive as much general investor interest as crude oil futures, the contract serves as an essential vehicle for market participants seeking to speculate and hedge in the gasoline market. RBOB stands for Reformed Blending for Oxygen Blending. Not surprisingly, RBOB gasoline futures prices are highly correlated to crude oil, since gasoline is distilled from crude oil. Therefore, some of the global supply and demand factors for crude oil are related to the RBOB.
Still, the RBOB market has its own supply and demand factors. For example, since many of the gasoline refineries are located in the US Gulf Coast region, weather issues in that area can drive up the RBOB price. Another important factor to consider is that in many jurisdictions gasoline is heavily taxed. This can affect the supply and demand for RBOB. The price of an RBOB gasoline futures contract is quoted in US dollars and cents.
To obtain RBOB gasoline prices in a simpler way, we will describe, step by step, how to obtain it. To begin with, you should know what the name of this platform is, or rather, of this API. Its name is Commodities-API, a very famous API for those people or investors in the world of oil, in all its variants (Brent, WTI, RBOB, etc).
How to obtain RBOB Gasoline Futures using Commodities-API?
Commodities-API is the API preferred and chosen by thousands of oil investors or entrepreneurs. Even mining companies choose it as Barrick. And this is due to its high-quality service, which is also very fast. On its site, they perfectly describe it as “60 seconds updates”, which means that in just 60 seconds, you will get RBOB gas updates. This is very important considering that oil is subject to international conflicts such as the war between Russia and Ukraine.
How to get Gasoline RBOB futures prices?
Step 1: Enter the site of this API for commodity data. If you know what it is, here we will leave it: https://commodities-api.com/.
Step 2: Register and enter your personal data. Don’t forget to check your mailbox, as you will need to confirm your account there.
Step 3: Choose one of the available plans, which are the no-cost version, the professional version and the professional plus version.
Step 4: Look for the RBOB Gasoline symbol. Just in case, we will give it “RBU22”. Then, select the legal tender of your country.
Step 5: The last step is simply to perform the “API call”. That will be it! You will get RBOB Gasoline Futures in a few minutes!
Extra data: If you need it, you can also create charts for a better analysis of the information. This will also help you make comparisons with other products.