Do you want to start investing in a more ecological fuel? Are you interested in the currency of Great Britain? Then read this post that will help you enter the market in an easy and analyzed way!
Ethanol is a chemical compound obtained from the fermentation of sugars that can be used as fuel, alone or mixed in various quantities with gasoline, and its use has been extended mainly to replace the consumption of petroleum derivatives.
In general, ethanol is thought to be better for the environment than gasoline. Ethanol-fueled cars emit less carbon dioxide and have the same or lower levels of hydrocarbon and nitrogen oxide emissions.
Bioethanol is mainly produced by fermentation of sugar derived from crops such as sugar beet, sugar cane, wheat and corn/maize. Ethanol is a high- octane clear, colourless liquid that can be blended with conventional petrol but increases the vapour pressure of the fuel.
Canada, Brazil, India and the UK are main producers and exporters of bioethanol. In the UK, the bioethanol production peaked at 645 million liters in 2021. Between 2010 and 2022, figures oscillated greatly, reaching the record low at 29 million litters in 2017. By 2021, bioethanol output amounted to 262 million liters, a decline of 254 million liters compared to the previous year. Lexus and Lotus are the most purchased car brands in the UK and those that use only fuel from Ethanol.
Due to its power within the country’s production and consumption, the ethanol fuel market is watched by the country’s economists. In fact, they use Commodities-API that is managed through an API, a computer software that connects programs, in order to keep up with new ethanol updates on the stock market.
What Is Commodities-API?
Commodities-API is a free and open website that uses an API to get real-time data on up to 170 different items on the market in various currencies.
The service is run by receiving data from financial institutions every 60 seconds and working with two decimal places of accuracy. In turn, data and measurements from earlier days, weeks, months, and years may be accessed in order to get a superior position in the market while investing.
It´s also very easy to use, just follow these instructions:
- Log into the website
- Get an API-key
- Select the currency (GBP) and commodity (ETHANOL) of your choice.
How Safe Is It?
To protect your connection, the Commodities-API website employs bank-grade 256-bit SSL encryption. Commodities-API is used by thousands of developers, small family businesses, and huge corporations on a daily basis. Because of its dependable data sources and more than six years of expertise, this API is the most secure site for commodities rates.
Is It Possible To Obtain Reports For Other Dates?
Yes, “historical rates” are available for most currencies, and have been since August 2021. You may query the Commodities-API´s API for historical rates by adding a date (format YYYY-MM-DD) to the basic URL.