Need to get crude oil prices? Would you like to use an API to check them? Well, look no further! In this article, you will find what you are looking for. It is the best Crude oil prices historical data API.
Petroleum is a flammable, oily liquid of natural origin that is mainly composed of a mixture of hydrocarbons, which varies between 50 and 98%, and various organic compounds that contain oxygen, nitrogen and sulfur. It is sometimes found in springs or ponds, but it is usually extracted from below the Earth’s surface by drilling wells. Previously called rock oil or mineral oil, unrefined oil is now known as crude oil. This Commodity forms when plants and animals that live in the water die and settle at the bottom of oceans, ponds, or swamps.
The oil is separated by distillation into the following fractions. Direct gasoline, with a boiling point of up to 200ºC. The middle distillate, with a boiling point between 185ºC and 345ºC, from which kerosene, fuel oils and diesel fuels are obtained, for jet propulsion, rockets and gas turbines. Lighting oil, gas oil, with a boiling temperature between 345ºC and 540ºC, from which waxes, lubricating oils and filler are obtained to produce gasoline by catalytic disintegration or cracking. Residual oil, which may be asphaltic.
Although the planet can form oil, it takes 1 million years to form, so it is considered a non-renewable resource, which will eventually run out. But that will be many years away and for now, crude oil will continue to be very important. If your objective is to use an API to obtain the prices of this commodity, it is best to implement the Commodities-API service.
Thousands of developers, SMEs, and large organizations use the Commodities-API API, also known as an application programming interface. Being a link between you and the major financial hubs across the world is its primary goal. You can use this information to study the market and determine when it is the best moment to buy crude oil. With a refresh rate of every 60 seconds, all of the information is given with a precision of two decimal places. Additionally, given that it is not expensive, its pricing should be mentioned (15 to 50 dollars per month). However, there is a free option with some restrictions as well.
Another interesting fact is that the prices are shown in the official currency of your country, no matter what it is. For example, if you are Japanese you will see prices in Japanese yen, if you are Chinese in Chinese yuan, or if you are Indian in Indian rupees.
From whence does Commodities-API obtain its data? Is it trustworthy and accurate with regards to price?
That is a resounding “yes” to the questions. It now uses 15 different data sources, including the World Bank, to guarantee that the data is accurate to the nth degree. Numerous customers certify the excellence of Commodities-API, including Barrick, Metex, Mansour, and Injective Protocol. Bank-grade 256-bit SSL Encryption is used to encrypt the Commodities-API API. We advise you to visit the website and read the instructions for using this service. Contact Commodities-API customer care or send an email to [email protected] if you have any questions.
Also published on Medium.