Do you want to save time and money by using an API for heating oil spot prices? If the answer is yes, keep reading to find out how!
The process of refining petroleum yields heating oil; which should not be confused with crude oil. As the name suggests, it is mostly used to heat residential and commercial structures. Anyone may have a natural gas or electricity system in their home; but for people who live in areas without convenient access to main gas lines, heating oil is the ideal choice.
Furthermore, as heating oil is made from crude oil; the price of crude oil has a big impact on the price of heating oil. As a result, concerns over crude oil prices may also have an effect on the price of heating oil.
However, in addition to acting as a portfolio diversifier and inflation insurance; heating oil, like other resources, can also present opportunities for speculation and profit; particularly due to recurring seasonal price swings in response to shifting domestic use. So, if you are looking for a way to keep track on its changes, we suggest using an API for commodities prices.
What Is An API For Commodities Prices And How Can It help You Save Time And Money?
An API is a small piece of computer code, that allows communication between two softwares. Additionally, it controls how a computer program operates. In order to use pre-existing files or data from one piece of software in another program or one of its higher levels, an application must have an API.
So, an API for commodities prices provides access to commodity data; which is obtained from a range of trustworthy financial sources.Thorugh this tool, you can also get access to precise data that is updated hourly; or even minutely without the need to search for the data yourself or pay a great amount to have access to it .
Which API Provides the Best Commodity Spot Price Information?
The most practical approach to acquire a particular piece of data is using an API, but you must first identify which web service has the greatest API. This is due to the fact that not all Internet-based APIs are trustworthy, as they sometimes originate from questionable sources. Therefore, we advise choosing a trustworthy API like Commodities-API
Commodities-API allows you to get commodity spot price from over 15 trustworthy data sources; including banks and financial organizations. It also has more than 6 years of market expertice.
How To Get Heating Oil Spot Prices With This API
- To obtain an API key, register on Commodities-API website. Once registered, you can select a plan. Commodities-API currently offers three different plans: beginning (no-cost), basic, and professional. Choose the one that best satisfies your needs after carefully weighing the differences between each.
- After completing the aforementioned procedures, choose the currency you wish to view your pricing in, and then select the commodity symbol you desire (in this case heating oil). Keep in mind that you can choose from more than 170 different currencies!
- After making a choice, send the API call, then wait for the result.
And bingo! Heating oil spot prices will be available to you in just a few seconds. Commodities-API will allow you to monitor any changes in heating oil prices without wasting any time or money.
Related post: How An API Can Give You Open And Close Commodity Rates Of An Specific Day