Do you want to know how to get crude oil prices from all around the world with an API? If so, keep reading to find out how!
In case you didn’t know, crude oil is a vital source of energy for the globalized economy. By being one of the most frequently traded commodities; crude oil is significantly influenced by geopolitical and meteorological factors. So overall, crude oil is one of the most traded commodities in the world and a substantial part of the global fuel output.
Furthermore, the two crude oil grades that are traded the most globally are Brent North Sea crude and West Texas Intermediate crude. Thus, significant portions of the world’s oil output use both Brent and WTI crude as price benchmarks. Additionally, the weather, geopolitical developments, supply and demand dynamics; and other factors are only a few of the numerous factors that influence crude oil prices.
So, if you happen to be an investor or trader interested in crude oil; the best for you is to obtain accurate crude oil prices from all around the world so you can evaluate your options. Luckily, by using an API for commodities prices, you’ll easily get crude oil prices in no time!
How Can An API Help You Obtain Crude Oil Prices?
Since it compiles precise commodity data from numerous reliable sources; an API for commodities prices can quickly offer you crude oil prices, as well as any commodity price. This is because an API, or application programming interface, is a tool that permits communication between two different program types in order to get particular data.
Thus, uing an API is the best way to get a specific piece of data; but you need to know which web service has the finest API. This is because not all Internet-based APIs are trustworthy. For this reason, we suggest using Commodities-API, a reputable API with more than five years of market experience.
This API makes it simple to obtain accurate commodities data for a reasonable price. Additionally, all spot data is provided in real time with a frequency of up to 60 seconds and accuracy to two decimal points.
How to Use This API to Get Crude Oil Prices From All Around The World
- First of all, a Commodities-API account should be created. You can select the plan you want to use at this stage. Amateur (no-cost), basic, and professional are the three plans that are currently available for this API. Weigh their differences and then pick the one that best meets your needs. As an example, if you select the first plan, you will receive hourly commodities updates for no-cost!
- After registering, you will receive an API key that you must use each time you make an API call. However, before you can use it, you must authenticate it by including your bearing token in the authorization header.
- To receive commodity prices, simply choose the currency in which you want to view your pricing, followed by the commodity symbol of your choice (in this case, it can be Crude Oil WTI, or Crude Oil Brent).
- Call the API and await the response.
To learn more about how to integrate Commodities-API into your own website, go to https://www.commodities-api.com/. To quickly understand how the API works, read the frequently asked questions and find the documentation there.
Related post: What Are Primary Commodities And How An API Can Provide Their Rates
Also published on Medium.