Are you interested in purchasing Brent crude oil rates? Are you tired of market volatility? Well, unfortunately, you can’t avoid this, but you can prevent it with this API. It is the best Brent crude oil rates API.
In total, there are more than 30 different types of crude oil, which differ mainly in terms of origin and quality and are traded at different prices. However, the price of a barrel of Brent was set internationally as the reference value for the price of oil. This price is an important indicator for stock markets and the world economy. Oil is used not only as fuel but also as a raw material for the production of various industrial products. Price fluctuations have global effects on financial markets.
The barrel of Brent is crude oil, obtained mainly from oil wells in the North Sea: Brent, Forties, Oseberg and Ekofisk. The use of Brent crude is very widespread because it is light crude, low in sulfur, and easy to transform into diesel or gasoline. In addition, this oil, being drilled in the open sea, facilitates its transport, which explains why it is so commercialized. The Brent barrel is one of the three main references used in the trading of oil, futures, and derivatives contracts. The other two important references are West Texas Intermediate (WTI) and Dubai/Oman.
The price of a barrel of Brent is quoted daily on the London Stock Exchange and, more specifically, on the ICE or Intercontinental Exchange market. Nearly half of the world’s traded oil futures contracts go through the London market. However, in the last twelve months, the price of a barrel of Brent oil has increased by 72.55%. This volatility is terrible, but luckily, Commodities-API will offer you a service to prevent these variations in rates.
Why Commodities-API?
Commodities-API is an API (short for Application Programming Interfaces) used by thousands of developers, SMBs and large corporations. Thanks to the data provided by commodity exchanges, you will have up-to-date information and will be able to analyze the financial market situation and decide when is the best time to invest in Brent crude oil. Prices are displayed with a precision of 2 decimal places and are updated once every 60 seconds (this depends on the plan you choose). Thanks to this, many multi-million dollar companies such as Barrick, Metex, Mansour and Injective Protocol decided to use this service.
How much is it? Is it a 100% secure API?
This service offers 3 plans, free (0 costs), basic (15 dollars per month), and professional (50 dollars per month). In the “pricing” section you can see the main differences between each one. The Commodities-API is encrypted using bank-grade 256-bit SSL encryption. That is to say, your personal and bank data (in case of acquiring a paid plan), will be protected as if it were a bank.
We recommend that you go to the website and read the documentation on how to use this service. If you have any questions, please feel free to contact Commodities-API customer service or send an email to [email protected].
Also published on Medium.