Do you wish to obtain natural gas prices? Then use an API!
Natural gas is a combination of four naturally occurring gases, each with a unique molecular structure. This combination is predominantly composed of methane, which accounts for 70-90 percent of natural gas, as well as ethane, butane, and propane. These gases are the consequence of compressed heat and pressure from dead animals that have been buried deep beneath the Earth’s surface for millions of years.
Natural gas is taken from the Earth’s interior by natural gas drilling, which is done in tandem with oil drilling. Once recovered, the gas is blended with a liquid known as crude oil and this is how natural gas is converted into usable energy. Because it is utilized every day, its output increases year after year.
Natural gas is a good natural energy source that has advantages over other energy sources such as:
- Less impurities
- Less chemically complex
- Combustion produces less pollution
- Produces less carbon dioxide than other energy sources
- Available for extraction.
Knowing all of this, we can clearly see and understand why it is one of the world’s most significant commodities. The United States is the greatest producer, producing more than 32 billion MMcf each year. Russia and Iran come in second and third, with 22 and 10 billion dollars, respectively.
So, if you wish to obtain natural gas rates then you should definitely use an API. This is a technology used by many websites that can work for different purposes. Let us explain better.
What’s an API
This is an interface that connects two computers or applications and allows them to communicate with each other every second. When you send a request to an API, it collects data from other places and then provides it to you in an instant. This is extremely useful for many things and will work perfect for you and your investments.
You can get an API from a software that provides you with it. You need to be careful here, since there are a lot of these online but not all of them work the same way. A bad choice can make you lose a lot of time and money.
How To Use This
To explain better how this works and to give you a good tool, we will use Commodities-API, one of the most complete and effective APIs available at the moment for commodities prices. This platform delivers the current market values of items that are available for immediate delivery at the time of the quote.
To obtain these prices, you must:
- Visit get started, go to www.commodities-API.com. After that, you will be issued your personal API key.
- Look for the natural gas as well as the currency symbols of your choosing.
- Insert the commodity and money in the dashboard using these symbols. Make the API call after you’ve decided on them.
- The website will give an API in a number of computer languages, which you will be able to edit, utilize, and adapt as needed.
The result will look like this:
{
"success": true,
"timestamp": 1519296206,
"base": "NG",
"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,
[...]
}
}
More Information about This API
Every minute, this API collects commodity pricing data from over 15 reputable data sources, including banks and financial data. However, keep in mind that the Commodities-API API only provides midpoint data for commodities and currency rates. Midpoint rates are calculated using the average median rate of Bid and Ask at a given period.
Also published on Medium.