Do you want to better understand heating oil spot prices? If so, here is an introduction to how to use an API for that!
As you may be aware, commodities are not-altered products that can be traded for goods of the same kind. In other words, these are the products that can be marketed by several businesses in the same manner. They are also generally raw items with little additional value; and are separated into four categories: cattle, meat, agricultural products, and energy (crude oil, petroleum derivatives, natural gas, etc). (corn, soybeans, wheat, coffee, sugar, cotton, etc.)
Now, if you are interested in trading or investing in them, there are two ways you can access reliable data. The fist is the most obvious and complicated one: searching for their spot prices mannually. This can be very difficult since it takes a lot of time, and you have to know where to search for reliable information. The other way is the most effective, just use a commodities spot prices API!
What Is An API For Commodities Spot Price?
An application programming interface (API for short) is a web-based tool that enables communication between two applications or systems of various types. In this way, a software can quickly ask for and get specified data from dependable sources.
Therefore, with the help of an API for commodities prices, you may get up-to-date commodity price information without spending too much time, resources or effort!
Which Is The Best API For Obtaining Commodities prices?
Although using an API is the greatest method for obtaining a certain piece of data, you must be aware of which web service has the best API. This is due to the fact that not all Internet-based APIs are reliable, since they can come from suspicious sources. For this reason, we advise using a reliable and reputable API like Commodities-API.
Commodities-API, as its name implies, is an API (short for application programming interface) that provides an interface that makes it possible for two applications or systems of various kinds to communicate with one another. With the use of this API, you will be able to get spot pricing data from over 15 trustworthy data sources, including banks and financial institutions, who vouch for the accuracy of the data.
How To Use This API For Heating Oil Spot Prices In Four Steps
- Register at Commodities-API website and obtain your API key. With this unique combination of numbers and letters you’ll be able to make API calls. Also, at this point you can select the plan you want to employ. Commodities-API offers three different plans: started (no-cost), basic, and professional.
- Verify your API key . To do this, you simply need to include your bearer token in the permission header.
- Select the currency you want to view your pricing, and then select the commodity symbol you desire (in this case Heating Oil). Don’t forget that there are more than 170 currencies available.
- Last but not least, call the API and wait for the response.
And ta-dá! In just a few seconds you’ll obtain heating oil spot prices! So what are you waiting for? With Commodities-API you will be able to track any changes in commodity prices without wasting any time or effort.
Related post: Want To Start Investing In Commodities? An API Can Help You!