Are you looking for WTI crude oil hourly rates? Use an API!
To locate this sort of price online, keep in mind that WTI crude oil is not the same as Brent crude oil. These are the two most important crude oil trade classes. Brent is produced in the North Sea, which borders the United Kingdom and Norway, whereas WTI Crude is produced in the United States. Texas, North Dakota, and New Mexico hold the bulk of the country’s oil reserves.
There are also differences in the composition of each oil due to differences in sulfur and API gravity, which can have a direct influence on costs. WTI has 0.24 percent sulfur, whereas Brent has 0.37 percent sulfur. The lower the sulfur content of the oil, the sweeter the oil and the easier it is to refine. Both WTI and Brent are considered sweet crude.
With this in mind, you may now seek the prices you want. An API, which is an interface that gets information from a location and then offers it to you quickly, may be quite handy for this. You may use this to request WTI crude oil prices and then retrieve the price in the currency of your choice.
How to Get an API
With that out of the way, we can show you where to find a solid API and how to utilize it. There are other commodities rates available, but for this example, we will choose what we believe to be the most comprehensive: Commodities-API is a free web API that allows you to follow a variety of commodities such as oil, coffee, rice, sugar, and wheat.
With this API it is really simple to get hourly rates since this data can be updated every second, minute and hour depending on which plan you have. To obtain this information, you have to:
- To obtain your personal API key, go to www.commodities-API.com and sign in.
- Look for the symbols for WTI crude oil and the currency of your choice.
- Find the commodity and money in the list using these symbols. Make the API call after you’ve decided on them.
- The website will deliver an API in a variety of programming languages that you may modify and use anyway you see fit.
The result will look something like this:
{
"success": true,
"timestamp": 1519296206,
"base": "WTIOIL",
"date": "2018-09-10",
"rates": {
"AUD": 1.566015,
"CAD": 1.560132,
"CHF": 1.154727,
"CNY": 7.827874,
"GBP": 0.882047,
"JPY": 132.360679,
"USD": 1.23396,
[...]
}
}
More about this tool
Commodities-API is a simple and reliable API that offers commodities pricing, currency and price conversions, historical data, leasing contracts, and other services. You no longer have to be concerned about the dependability or quality of your data. This broad API may be used to trade, watch markets, and learn what the next big commodity will be.
It is software that collects data from banks and the stock market, making it entirely trustworthy. When you submit an API call, you will receive results with a precision of 2 decimal points and in a range of programming languages. Furthermore, this program leverages bank-grade 256-bit SSL encryption to safeguard your connection.
Check Crude Oil Historical Price Commodity API
Also published on Medium.