Looking to know what is the easiest way to get RBOB Gasoline pricing in USD? If you are looking for an article that will give you that answer, then this informative article will give you everything you need to know. The answer is simple, an API for Commodity Data!
Gasoline is a byproduct of refining crude oil. There are numerous distinct hydrocarbons that make up crude oil. Different-length molecular chains make up the structure of hydrocarbons. The weight of a hydrocarbon increases with chain length. Different chain lengths have higher boiling points as they get longer. Oil refineries separate the different chains by heating the crude oil at certain points of vaporization. Gasoline is created by the vaporization of chains with boiling points below water. These different chains are mixed in various amounts to provide a consistent product for gasoline.
Gasoline is most frequently traded through futures contracts. Although there are a few different gasoline contracts, the RBOB contract is the most popular. Reformulated Blend for Oxygenate Blend is known as RBOB. Under the symbol RB, the contract is traded on the Chicago Mercantile Exchange (CME). US dollars and cents are used to quote the contract price. The contract unit has a capacity of 1,000 barrels or 42,000 gallons. Since gasoline is made by distilling crude oil, it seems sensible that RBOB prices are highly correlated with crude oil prices. Thus, factors affecting the supply and demand of crude oil on a worldwide scale also apply to RBOB. The RBOB market does, however, have its own supply and demand dynamics.
To obtain the prices of this commodity in USD, especially from international and reliable sources such as CME Group, the easiest option is to use this API for commodity data called Commodities-API. We believe that this product will meet your expectations.
The easiest way to get RBOB Gasoline pricing in USD is with Commodities-API!
Commodities-API, as its name implies, is an API (short for application programming interface) that provides an interface that makes it possible for two applications or systems of various kinds to communicate with one another. With the use of this API, you will be able to get spot pricing data from over 15 trustworthy data sources, including banks and financial institutions, who vouch for the accuracy of the data. With a frequency of up to 60 seconds and accuracy to two decimal places, all spot data is sent in real-time. Delivering exchange rates for virtually any commodity (such as RBOB Gasoline) or mineral, converting legal tenders, and returning time-series data and volatility data are just a few of the capabilities of this incredible system called Commodities-API.
We recommend carrying out the following actions to view RBOB Gasoline Pricing In USD:
1. Start by visiting Commodities-API.com.
2. Create the API key in step 2.
3. Sign up using your data, then select a plan. Commodities-API now offers three plans. Select the best option for your needs.
4- After completing the previous steps, select the symbol for the raw material you desire (RBU22 for RBOB Gasoline), and then select the legal tender in which you wish to view your prices. Obviously, choose USD.
5- After choosing, realize the API call.
6-JSON or C Language are both available as programming languages. Another option is PHP or even, Python.
Also published on Medium.