Are you looking for a way to get crude oil rates in Japanese Yen? Use an API!
Crude oil is and has always been one of the most important commodities in the world. This is because it is a limited resource that cannot be replenished naturally, making it expensive and in high demand. It is used to manufacture gasoline, diesel, and other petrochemicals since it is a fossil fuel.
In 2020, Europe produced over 20 million metric tons of crude oil, with Russia producing the most. Many European oil-producing countries are approaching, and others, such as the United Kingdom, have already passed their peak output. After reaching its peak oil output in 1999, the United Kingdom, a once-significant oil-exporting country, is now forced to rely on oil imports to meet its domestic oil consumption.
On the other hand, Japan produces 123,525.03 barrels of crude oil per day, which gives the country the ranking 44th worldwide. Every year, it produces an amount equivalent to 102.2% of its total proven reserves. With this, you can clearly see that crude oil is one of the most important commodities in Japan.
Because f this, it might be crucial to stay updated in crude oil rates in Japanese Yen in order to make clever decisions with your investments. You may end up with terrible results and lose money if you do not watch the commodity and see how it performs in the market.
This may be accomplished through the use of an API, which is a user interface that accepts data from a location and provides it to the person who made the API call. This is common on many websites and is quite beneficial when you need up-to-date information right soon.
But, What Is An API?
After sending a request to an API, you will receive data in a matter of seconds (or, more correctly, making an API call). This response is delivered in a number of computer languages, depending on the API, including JSON, PHP, and Python.
If you’re looking for crude oil rates in Japanese Yen, we recommend Commodities-API, a free web API that provides real-time data on commodity prices such as coffee, rice, sugar, and wheat, among others.
To take use of it, you must perform the following:
- Go to www.commodities-API.com to get your own API key.
- Locate the symbols you want to submit to the test (BRENTOIL or WTIOIL and JPY)
- Using these symbols, locate the commodity and money in the list. After you’ve settled on them, make the API call.
- Look for the most recent pricing. The website will give you with an API in a number of computer languages, which you are free to modify and use anyway you see fit.
As a result of this, you’ll receive this API:
{
"success": true,
"timestamp": 1519296206,
"base": "BRENTOIL",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}
Additional Details About This Software
Commodities-API can provide real-time commodities data with an accuracy of 2 decimal points and a frequency of 60 seconds. Exchange rates for practically every commodity are available, as well as Precious Metals, currency conversion, Time-Series data, and volatility information.
Prices for rice, wheat, coffee, corn, sugar, Brent crude oil, WTI crude oil, soybeans, gold, silver, and other commodities are all rising. This API delivers precise commodity and exchange rate data for over 170 different currencies, including Bitcoin and other major cryptocurrencies.
Also published on Medium.