Would you like to buy crude oil for your industry? If that is your case, you must first find out what the price is. But… we have news to tell you! Here we will leave you the best platform for crude oil rates API.
This oily and black liquid (it is not always like that, there are yellow ones) is a heterogeneous mixture of organic compounds and is mainly made up of hydrocarbons insoluble in water. It derives from the fossil remains of animals and plants that have been formed over millions of years under the pressure of sediments buried at the bottom of seas or lakes. Interestingly, approximately 60% of the world’s reserves are found in the Middle East.
However, it must be taken into account that oil appears crude in its natural state and is not suitable for direct consumption. For this reason, we need to pass it through the kitchen (refined) and subject it to thermal and chemical treatment (distillation, cracking, etc.) to obtain different final products: asphalt, gasoline, gas, etc. Transportation, defense, technology, industry, commerce, research and development, and many other facets of human activities are directly or indirectly linked to the use of oil or its by-products.
Thanks to all of the above, every country MUST have crude oil. But not all of them have the fortune of having oil fields in their territories, which is why they must import from other countries. If that is your current situation, the best thing you can do is check with an API, what its current price is. But this is not just an API, it is the best for commodities prices API. Its name is Commodities-API and we will describe it to you below.
What is Commodities-API?
First, you should know that currently, thousands of developers, SMEs and large organizations use Commodities-API. This is because this API is the most reliable market in the world due to its data sources and its more than 6 years of experience. In fact, it is trusted by world-renowned companies such as Glencore, Changelly or Chainlink. If you’re wondering where it gets the information from, it’s thanks to more than 15 companies, such as financial data providers and banks, including the World Bank.
If you want to understand how this service works, you should first read the very complete documentation on its website. But we also know, that sometimes we don’t have time or interest to read extensive documentation, so Commodities-API also allows you to access a quick start tool and test all API endpoints with the click of a button.
Finally, the connection on this website is very secure. Commodities-API is encrypted using bank-grade 256-bit SSL encryption. This means that it uses the bank’s security system. To access, go to the following link: https://commodities-api.com.
Also published on Medium.