Brent Crude Oil
Crude oil is a petroleum product made up of hydrocarbon deposits and other organic substances. It is a type of fossil fuel that is processed into products such as gasoline, diesel, and a variety of other petrochemicals.
Because of its non-renewable characteristics, it is a finite resource. Also, it can’t be replaced naturally at the scale at which the world utilizes it.
Therefore, the world economy has become dependent on natural resources like crude oil. The desire for these reserves frequently caused political chaos, as a small number of countries manage the biggest deposits. Crude oil pricing is significantly influenced by supply and demand, just like any other commodity.
As a result of the oil market, players are keeping an eye on two main global contracts: West Texas Intermediate (WTI), which trades on the New York Mercantile Exchange, and Brent Crude, which trades on the Intercontinental Exchange
Whether you are considering investing in crude oil or any other commodity, you need to know real-time rates in many currencies. In fact, the most accurate way to get this information is through an API
This online API manages to deliver precise rate data from a variety of commodities in multiple currencies.
Commodities-API began as a simple, minimalist Open-Source API for recent and historical commodity prices published by financial institutions.
The API can provide real-time commodity data with a precision of two decimal points and a frequency of up to every 60 seconds. Commodities-API is developed on top of a robust back-end infrastructure that provides high availability and response speeds for specific API calls of less than 50 milliseconds. Delivering exchange rates for commodities, converting single currencies, and returning Time-Series and Fluctuation data are all features.
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The Commodities-API uses bank-grade 256-bit SSL encryption to protect your connection.
Thousands of developers, SMBs, and large organizations use Commodities-API on a daily basis. Our API is the #1 resource for commodity rates because of its reliable data sources and 6+ years of experience.
Also published on Medium.