Are you interested in getting crude oil prices? Would you like to be able to make charts and analyze its historical rate evolution? If that’s your case, you should read this article.
Crude oil is a fossil fuel composed primarily of hydrocarbons, which may also contain small amounts of sulfur, nitrogen, and oxygen. It is formed under conditions of high pressure and heat by the transformation of organic matter and occurs, for example, in fractured sandstone and limestone soil covered by impermeable layers. It can also be found in shales and sands, and in some cases, can rise directly to the surface.
The fossil fuel crude oil forms the basis of most fuels to generate movement, which feed a wide range of vehicles and means of transport. On the other hand, it is used in engineering and automotive technology as a lubricant and in construction, in the form of bitumen, to protect buildings from water. It is also used in road construction, to generate electricity, and in the chemical industry to make plastics, cosmetics, pharmaceuticals, and other chemicals.
Although its use is losing its place with the arrival of renewable energies, it is still very important in the world economy. For this reason, business owners of some oil industry constantly watch its price, to know when is the best time to buy and sell. A useful tool in these cases is to use charts for visual organization and comparison of data. For this type of situation, it is best to use Commodities-API.
Why Commodities-API?
Thousands of developers, SMBs, and major organizations utilize Commodities-API on a daily basis. This API is the #1 resource for commodity rates because to its reliable data sources and 6+ years of expertise. In fact, it is trusted by the world’s most ambitious teams like Barrick Gold, Metex, Jewelers Mutual, among other famous companies. If you are wondering where they get their crude oil information from, they currently work with more than 15 companies, like financial data providers and banks, including the World Bank.
To understand how this service works, you must first read the documentation on its website, but don’t worry, everything is quite intuitive and easy to understand. In either case, in the Dashboard section of your control panel you will be able to access a Quick start tool and test all API endpoints at the click of a button.
In the case of charts, the process is quite simple. You must choose the Commodity or Currency as base, and then as target. That’s all, enjoy the custom chart of crude oil.
Also published on Medium.