Do you want to get natural gas historical rates? Then try using an API!
To understand how this works, we first need to explain why investing in natural gas and having access to different types of rates can help you improve your income. This product is a colorless, odorless, and explosive gas that appears when decomposing plant and animal waste is exposed to extreme heat and pressure.
Natural gas is a hydrocarbon gas mixture composed primarily of methane that contains traces of carbon dioxide, nitrogen, hydrogen sulfide, and helium, as well as other higher alkanes in various proportions. It’s mostly used as a source of energy for heating, cooking, and power generation.
Because of all this, it is one of the most traded and significant commodities in the world. Its biggest producer is the United States, with more than 32 billion MMcf produced annually. It is followed by Russia and Iran, with 22 and 10 billion respectively.
About Historical Rates
If you don’t know what historical rates are, then you’re missing out on one of the best ways to know how a product behaved in the past and maybe foresee how it will move in the future. These are rates that show merchants how a currency pair has traded at a specific point in the past.
For individuals interested in the foreign exchange (FX) currencies market, historical currency exchange rate data is a significant resource. Knowing what rate you are obtaining today in comparison to previous currency conversion rates is a useful planning tool for the future.
Use An API
So, if you want to obtain these types of rates and use them in your website or blog, you definitely need to use an API. This technology is an interface that connects two computers or applications and allows them to interact and exchange data. With this, you can obtain information from any other place on the internet and use it for personal reasons.
To get an API, you have to find a software that provides you with it. This can be easy since there are a lot of them online for you to use. However, you have to notice that not every one of them works the same way or provides the same information. Because of this, you need to search carefully for you to not lose time and money.
To help you with that and to explain better how this works, we recommend you to use Commodities-API, one of the most complete and accessible tools available at the moment. You can get different types of rates with an accuracy of 2 decimal points at a very low price.
To use it, you need to:
- Visit www.commodities-API.com and log in. You will subsequently be given your unique API key.
- Look for Natural gas with the desired currency symbols.
- Using these symbols, locate the commodity and money in the list. After you’ve settled on them, make the API call.
- The website will provide an API in a variety of computer languages that you may change, use, and adapt as needed.
The answer will look something like this:
{
"success": true,
"historical": true,
"date": "2013-12-24",
"timestamp": 1387929599,
"base": "GBP",
"rates": {
"USD": 1.636492,
"EUR": 1.196476,
"CAD": 1.739516
}
}
Is This Accurate?
Definitely! Using an API is definitely one of the finest business decisions you can make. Every minute, Commodities-API will retrieve data from over 15 credible data sources. Banks and financial data businesses are two examples.
It should be noted that this software only provides midpoint data for commodities and currency rates. Midpoint rates are calculated using the average median rate of Bid and Ask at a given period.
Also published on Medium.