Would you like to obtain the future prices of commodities such as oil? It is evident that every investor or entrepreneur is concerned about the current situation in the world and therefore decides to trust the futures market. To obtain these prices we recommend using this service, better known as the best Crude oil prices historical data API.
Petroleum is a heterogeneous mixture of hydrocarbons (hydrogen and carbon compounds) insoluble in water. It is of organic, fossil origin, the result of the transformation of organic matter from zooplankton and algae, which, deposited in large quantities on anoxic bottoms of seas or lacustrine areas of the geological past, were later buried under heavy layers of sediment. It is a non-renewable natural resource and is currently the main energy source in developed countries.
Natural oil is not used as it is extracted from nature but is separated into simpler mixtures of hydrocarbons that have specific uses, this process is known as fractional distillation. The boiling natural oil (about 400 degrees centigrade) is introduced into the lower part of the tower, all the substances that evaporate at that temperature pass as vapors to the slightly cooler upper chamber, and in it the heaviest fractions that correspond to lubricating oils. Products such as gases, benzene, ligroin or petroleum ether, gasoline, kerosene, diesel fuels (light and heavy), lubricating oils, and asphalt are obtained from this process.
However, oil remains a commodity and therefore suffers from a lot of price volatility. In periods of crisis, buying in the spot market is not the best option, and for this reason, many resorts to the futures market. To obtain these prices, we recommend using the Commodities-API.
Why should you use Commodities-API?
The greatest choice is Commodities-API because it is the top system for commodity prices and may be used to get crude oil futures prices. Its straightforward purpose is to swiftly and effectively gather 100% accurate data from 15 sources, including banks and financial institutions. We can get updated data from this service every 60 seconds, with a precision of two decimal places. Another crucial fact is that, often, dollars or euros are used in foreign markets. But don’t worry, Commodities-API understands that your convenience comes first, which is why it provides you with the option to view the prices in whichever legal tender your nation uses.
Can I use this service without paying anything? Or It has a cost?
Both inquiries have a positive response. You are not required to pay anything to use it, but this option is not highly recommended because it does not offer many “API Calls”. However, there are additional paid plans that fully utilize the Commodities-API features. For example, the professional package, which costs $50 per month, gives you access to 100,000 price changes per month (API calls).
What if you have a problem finding future crude oil prices?
Fortunately for you, this answer will satisfy you. At Commodities-API, there is a customer service team, which will be in charge of answering and solving all your problems. Just communicate via the virtual chat of the website. Click here to view it!