Do you want to know if there is an API to get historical crude oil prices per date data? If so, keep reading to find out!
For some reason, commodities are usually ignored when creating an investment portfolio. This may be due to the fact that many financial experts solely encourage clients to allocate cash to stocks and bonds. Others, however, believe that portfolios should be highly diversified in order to help investors minimize risk and equalize results. And this’s where commodity investing comes in.
Precious metals, energy, agricultural products, and other commodities all fluctuate in response to elements that are specific to their particular businesses. As a result, if you wish to diversify your portfolio, these might be interesting transactions. Commodities are unprocessed natural resources used directly or indirectly to produce other goods.
For instance, a commodity like crude oil is utilized to create a variety of goods and services. Airline profits can be considerably impacted by the price of oil because airlines spend a lot of money on fuel for their aircraft.
Thus, crude oil is still a substantial source of energy and one of the most actively traded commodities in the world. Trading professionals would do well to understand the fluctuations this commodity has had over time; in order to be well-informed in their future financial decisions. Luckily for them, they can easily access this information through an API for commodities prices.
What Is A Commodities Prices API?
As you may eb aware, an application needs an API in order to use pre-existing files; or data from one piece of software in another program or one of its higher levels. As a result, a commodities prices API enables your software to quickly obtain accurate commodity price data that is compiled from a number of trustworthy financial sources. The majority of the time, this information is accurate and updated immediately. It also provides historical data to aid in your market analysis.
Which Is The Best API For Historical Prices Today?
We recommend using Commodities-API if you are looking for a commodities prices API to obtain accurate rates as well as historical date data. This is a trustworthy web-based solution with more than 6 years of market expertise. By using Commodities-API, traders and investors can obtain historical data on the commodities of their choice. The website allows users to read records going back days, weeks, months, and even years.
How To Get Crude Oil Historical Prices Per Date Data With This API
- First, create an account at Commodities-API. At this point you can select the plan you wish to utilize. The three plans that are presently available for this API are amateur (no-cost), basic, and professional. Select the one that best satisfies your requirements after analyzing their differences. For instance, if you choose the first plan, you will receive hourly commodity updates without spending a dime!
- After registration, you’ll receive an API key that you can use each time you contact the API. However, before utilizing it, authenticate it by supplying your bearing token in the authorization header.
- To obtain commodity rates, just select the currency you wish to view them in, then the commodity symbol of your choosing (in this case, crude oil).
- Finally, send the API request and wait for the reply.