Are you looking for the best and most comprehensive APIs for crude oil prices? Then today it’s your lucky day! In this post we are introducing you to the top three APIs in 2023 for you and your work.
Commodities, as one might expect, are appealing investments because they are materials that will always be needed and whose demand will only increase as civil society evolves. Nevertheless, because their market is constantly changing, it is crucial that they stay up to date on all new innovations. One can keep track of this by conducting manual research on various exchange market websites. However, this method is time and labor intensive. Not to mention how easy it is to make mistakes because prices are constantly changing.
Luckily, there is another method that simplifies research significantly. This one makes use of cutting-edge technology and artificial intelligence to determine the prices of various commodities quickly and accurately. We’re talking about a commodity price API!
Why Should I Use An API For Crude Oil Prices?
An API is a small piece of computer code that allows two programs to communicate with one another. It also governs how a computer program operates. An API is required for an application to use pre-existing files or data from one piece of software in another program or one of its higher levels.
As a result, an API for commodity prices provides access to commodity data obtained from a variety of reliable financial sources without having to search for it yourself or pay a high fee to do so.
Employing an API for commodity prices is the quickest and most concise way to find accurate prices from reliable sources. This tool collects commodity information from trustworthy sources and quickly transfers it to your software.
But you need to be careful because not all APIs that are widely available today are safe or dependable. This is because they can come from shady API vendors! So, to help you choose a reliable API, we’ve compiled information on three of the top commodities spot price APIs currently available on the market:
1.Commodities-API
Firstly, we recommend Commodities-API, a reliable API with over five years of market experience. Commodities-API provides access to commodity spot prices from over 15 reliable data sources, including banks and financial institutions.
Furthermore, Commodities-API gives information in over 170 different currencies with a two-decimal point accuracy. Moreover, depending on the subscription you choose, you can send up to 100.000 API requests per month and receive data updates every 60 seconds. It is also a relatively safe API to use because it employs bank-level security. As a result, your connection to Commodities-API will be protected by industry-leading 256-bit SSL encryption.
2.Open Exchange Rates API
Open Exchange Rates provides a transportable, secure, and simple API for more than 150 different currencies worldwide. The data is gathered from a variety of trustworthy sources and algorithmically blended to ensure equality and impartiality.
The exchange forms made available through the Open Exchange Rates API are compiled using data from multiple reliable sources; it is then supplied in JSON format to all users before being made public. Furthermore, it employs high-level encryption to ensure the security of your connection with this API.
3.Commodity Data API By Barchart
This is an Internet service that has been around for a while. Barchart’s website was one of the initial to provide commodity and futures market data. A multinational banking software provider, which also provides market data and services to the commodities and financial media industries, provides Commodity Data API.
Barchart’s diverse customer base’s operations are fueled by its own data, software, and technological solutions. Furthermore, its entertainment businesses provide internet material, headlines, and magazines to assist market and financial experts in their decision-making.