Are you worried about the changes that are happening or could happen with London’s gas oil? Would you like to be able to find out the future prices of this commodity to avoid surprises? Well, using this API, you will be able to obtain them!
Diesel oil is a product obtained from the distillation of crude oil, purified to remove sulfur and other substances. Diesel oil is used as fuel, especially in so-called diesel engines. In short, it can be said that diesel derives from petroleum: an oleaginous fluid, extracted from maritime or continental geological beds, which combines various organic compounds. To be used, the oil undergoes a process known as fractional distillation, through which its components are separated and various products are obtained. Naphtha, kerosene, methane, and tar are the products obtained from the distillation of petroleum. Also, as we mentioned above, diesel.
About 75% of gas oil is made up of saturated hydrocarbons, while the rest corresponds to aromatic hydrocarbons. The density of diesel is higher than the density of gasoline, which in turn offers a higher calorific value and emits a greater amount of carbon dioxide during its combustion. In addition, the price of this fuel, in general, is usually cheaper than the price of gasoline. In the same way, it should not be overlooked that diesel cars consume less fuel than the others mentioned. And cars that consume diesel have engines that have more power because they work at low revolutions.
However, in the face of global uncertainty, inflation, and international conflicts, the United Kingdom is concerned about what could happen to London gas oil. For this reason, many investors are attentive to the future prices of this commodity. And to get these prices, we recommend the use of Commodities-API! It’s an API for commodity data.
Why Commodities-API?
It is no surprise that futures prices are the best option in current times. Futures markets are those where long-term contracts for the sale of a product are negotiated, agreeing on a price for a certain amount to be received on a specific date. These contracts, also called forwards, ensure a fixed purchase price, oblivious to fluctuations that may occur due to economic crises or seasonal changes in production, among other reasons. Their main advantage is that they reduce the risk associated with this variability. In this way, using Commodities-API, the investor will be able to obtain the future prices of London Gas Oil and thus, will be able to obtain an opportunity to avoid large losses.
What Commodities-API does is just collect and update future prices closest to the date. Each Commodity has a monthly, bi-monthly or quarterly future price. So, you can be sure that this company will provide you with the most up-to-date prices on the market. And if you wonder where he gets those prices from, then the answer is from the main Commodity exchanges in the United Kingdom and the world. An example of it? Euronext, CME Group, among others.
Using this system has a cost if your goal is to implement it for business purposes. Although there is a no-cost version, the truth is that given the limitations of that plan, we do not recommend it very much. But it can help you to test this service before being 100% determined to acquire a payment plan.
Also published on Medium.