Being updated on petroleum prices is much easier than you think. Choose the API that better suits your aims and you’ll have the freshest data of the market.
Investment in Oil
Because oil supplies almost all of the energy we require, it is an economically and strategically crucial resource for many countries. Large crude oil reserves are kept by countries like the United Arab Emirates and the United States for future usage.
Due to production and consumption patterns, its stock levels change, and this information serves as a signal to investors.
Petroleum investors are on the lookout for significant economic data that can aid in forecasting future tendencies. Inventory levels, worldwide demand, and economic statistics all have an impact on oil firms.
Nevertheless, you’ll need to be aware of real-time rates in a range of currencies if you’re considering investing in crude oil or any other commodity. In reality, using an API is the most precise way to access this information.
1- Commodities-API
This website gathers market data prices in a range of currencies from various sources and organizations all over the world. Commercial sources are also chosen because, for most currencies and commodities, they better reflect market exchange rates.
Commodities-API originated as a modest, minimalist Open-Source API for financial institutions’ recent and historical commodity prices.
Accurate
The API can supply real-time commodity data with a two-decimal-point precision and a 60-second frequency. Commodities-API is designed on a solid back-end architecture that guarantees high availability and response times for defined API calls of fewer than 50 milliseconds.
Protected
The website encrypts your connection with bank-grade 256-bit SSL security.
Commodities-API is used by thousands of developers, small businesses, and huge corporations on a daily basis. Because of its reliable data sources and 6+ years of experience, this API is the most popular.
Endpoints
The API can deliver real-time precious commodity data thanks to its 10+ exchange rate data sources. There are several endpoints in the API, each of which serves a distinct purpose.
Retrieve the most recent commodity rates data for all or a specific set of currencies, convert values between currencies, get Time-Series data for one or more currencies, and query the API for daily fluctuation data are all endpoint functions.
2- Cmdty
Get the commodity prices you want, when you want them, and have them delivered right away. These commodity data APIs are simple to use, versatile, and on-demand.
3- Trading Economics
Live data streams for exchange rates, stock market indices, share prices, commodity prices, and government bonds are available from Trading Economics. Thousands of companies’ essential financials are also available.
Also published on Medium.