Are you looking for WTI Oil prices? Do it by reading this post about an API for commodities prices!
A combination of hydrocarbons known as crude oil is one that is found in naturally occurring subsurface reservoirs in the liquid phase and continues to be liquid at atmospheric pressure after passing through surface separation equipment. There are two varieties of crude oil:
The most significant crude oil is “WTI” (West Texas Intermediate). One of the principal international oil benchmarks is light, sweet crude oil. One of the best grade oils in the world that is simple to refine, it is mostly obtained from inland Texas. The oil futures contract on the NYMEX has WTI as its underlying material. The other type it´s the one named “Brent Oil” is a result of Shell UK Exploration and Production’s practice of naming all of its fields after birds when it operated on behalf of ExxonMobil and Royal Dutch Shell.
The oil and gas industry appeals to both short-term and long-term investors. The industry is a vibrant and liquid market that may potentially be used as an inflation hedge and portfolio diversifier. However, since they are vulnerable to fluctuations in the supply and demand of the underlying commodities, oil and gas equities typically exhibit greater volatility than the broader market. Additionally, oil businesses are subject to the risk of legal and regulatory action that may follow from mishaps like oil spills.
The largest production of crude oil in Europe is in Russia, but given the events such as the war between this country and Ukraine, the sanctions imposed by other countries and the recent death of the Queen of England, this commodity is dependent on the socio-political interests of the countries of Europe.
Due to this and to keep up to date with oil prices and movements, we recommend the use of platforms such as Commodities-API that help you find the right moment to make an investment thanks to software that sends fluctuating data to users.
What Is Commodities-API?
Commodities-API it´s a platform that runs through an API, a computer application, and provides their users with a wide range of stock market movements relating to commodities and currencies all over the world like oil, rice, sugar, cotton, among others.
How Does It Work?
The benefit of Commodities-API is that it offers a highly user-friendly website. To do this, follow these instructions:
• Log in to the website and create an account. Creating an API Key
• Select a product and a currency.
• The program will react to an API request made from the dashboard with an API response. You are all set to go!
Is It A Secure Platform?
Yes, SSL encryption is used by the Commodities-API to protect web-to-web communications. Financial organizations utilize this kind of security. The World Bank or financial institutions are where this API then obtains data from.
Is It Reliable?
The API has a two-decimal-point accuracy and a 60 second frequency for delivering real-time commodities data. A robust back-end architecture underpins Commodities-API, ensuring high availability and response times of under 50 milliseconds for specified API calls.