Do you know what heating oil is? Do you want to get market information about it? Read this post and get to choose from these three API for commodity data options!
A fuel oil is any petroleum product or other oil used for heating. It usually refers to low viscosity grades of fuel oil used in burners or radiators for house heating and other structures. HHO is an abbreviation for home heating oil.
Heating oil, often known as kerosene, is a liquid substance obtained as a by product of crude oil evaporation. It is comparable to diesel, but the chemical makeup differs, despite the fact that the qualities are the same.
Heating oil is used to heat both space and water. Heating oil and diesel fuel are distillates, which are petroleum distillates that are closely linked. Heating oil is primarily offered for use in boilers, furnaces, and water heaters (for space heating). Red coloring is added to heating oil.
Petroleum boilers have operating costs that are significantly cheaper than typical energy prices and are similar to those of gas boilers (depending on market fluctuations). They are, nonetheless, more expensive to buy and install than gas or electric furnaces.
Heating oil futures are standardized, exchange-traded contracts in which the contract buyer agrees to commitment of a certain volume of heating oil (e.g. 42000 gallons) first from supplier at a fixed price on a later delivery date.
As we have seen, the importance of heating oil in the commodity market will never go out of style, at least, it will not in the following decades. That is why if you are interested in being part of the heating oil investors and want to keep up to date with its fluctuating movements, we recommend the use of these three platforms:
Commodities-API
Commodities-API This expansive API provides market prices for products including wheat, rice, coffee, and sugar. To subscribe to the database, go to the webpage, get an API key, and then select the appropriate currency and commodity. The API allows anyone to do anything they want with it; that’s all there is to it. The Commodities-API may provide content in any currency you choose, with an accuracy of two decimal points, from a list of over 170 possibilities. Users can do up to 100.000 API queries each month and receive data updates every 60 seconds.
Barchart
Barchart, a global commercial technology company that provides market data and services to the financial, media, and commodities industries, was one of the first to provide commodities and derivatives data streams. Despite the fact that its content suppliers supply computer data, news, and magazines to help financial and industries professionals make decisions, Barchart’s specialized data, software, and technology solutions power the operations of its diversified client base from the engineering of the website.
CommoPrices
CommoPrices’ API gives users access to the prices and values of over 10,000 commodities and indices. Based on the source, the data may be updated daily, weekly, or monthly. The quantity of data accessible influences a corporation’s flexibility. Those interested in commodities could look them up on www.api.commoprices.com.