Are you interested in investing in oil? This post will help you!
Petroleum is a natural mineral oil that is made up of a limited amount of hydrocarbons and other components. This terrestrial substance is formed by the accumulation of organic material in calm and anoxic marine habitats until it is transformed into a combination of liquid, gaseous, and solid hydrocarbons with a variety of uses in everyday life and business.
Oil is one of the most essential raw commodities utilized today, and it accounts for a significant portion of the economies of various nations, as well as a significant role in the global economy. This substance offers a number of benefits, including the fact that it is the world’s biggest fuel, that its derivatives may be used in a variety of applications, and that it has a high energy density.
But, in turn, oil is a commodity that brings together two very important characteristics in the market: risky and volatile, although the more risk, the more return. In 2016, after a spike in oil sales, sales fell causing a crisis in the market. But, crises are opportunities and with oil and oil companies you can bet that the outlook will improve or that it will have a deeper fall, bet against it.
One of the European countries that bet on this crisis was Switzerland, which is known for being the country with the best level of income in Swiss households. Statistics show that Switzerland managed to rise by 45% between 2019 and 2020, reaching the highest salary in the world. Because of this, it can afford to purchase 12 million tons of crude oil annually to power the country.
But how do investors bet on these crises and win? Many are lucky, but others spend hours analyzing the market, calculating its ups and downs. To have a better control of the metrics, we recommend Commodities-API
What Is An Application Programming Interface (API)?
First and foremost, you must understand what an API is. The abbreviation API stands for Application Programming Interface, which allows computer applications to interact with one another. The main purpose is to save time and money by reducing the amount of work that developers have to undertake.
What Are the Benefits of Using Commodities-API?
With over 170 options to select from, Commodities-API data may be given in any currency and to two decimal places. Every 60 seconds, data may be updated, and 100,000 API requests can be conducted every month. For They also have a customer service department that can help you with any issues or inquiries you might have.
How Do I Create An Account For The First Time?
The easy steps to utilize Commodities-API are as follows:
- Visit the website
- Create an account
- Request an API key
- Choose the types of commodities (OIL) and currencies (CHF) you’d want to operate with.
It’s as simple as that!
Visit their website for additional details.