Do you need to obtain oil rates? But not just any oil, WTI crude oil. Then today is your lucky day. We have a tool that will surely be useful to you. It is the best WTI crude oil rates API. We will explain it to you below.
West Texas Intermediate (WTI) crude oil is a blend of several light, sweet local American crude oils. It is mined and processed in the United States, and is refined primarily in the Midwest and along the Gulf of Mexico coast. WTI oil is used as the main benchmark in the US oil market. It is mined in inland states such as Texas, Louisiana, and North Dakota. This means that there is restricted access to shipping ports and subsequent global transport links.
As a light sweet crude, WTI is easier and cheaper to refine because it is less viscous and needs less treatment to remove excess sulfur compared to heavy sour oils. For this reason, WTI tends to be in higher demand, especially in the US domestic market. The price of WTI tends to move in correlation with the price of Brent crude, as both are benchmarks for light sweet oil. However, different global events can cause the values of these crudes to differ. Finally, because WTI is mined and blended in the United States, investors should be aware of any changes in the US oil markets, specifically in relation to shale production, that could affect the price of WTI.
Being up to date with the prices of this commodity is very important for American businessmen. The United States is the country that consumes the most barrels of oil per day, with 22 million barrels per day. Each barrel has 159 liters. As mentioned above, there are a few factors that could significantly change WTI crude oil prices. For this, we recommend Commodities-API, the API number 1 in its market!
Use Commodities-API!
This API is a very famous tool in the world, as it is used by many people to obtain commodity rates. In case you didn’t know, an API (Application Programming Interfaces) is a set of definitions and protocols used to develop and integrate application software, allowing communication between two software applications through a set of rules. Commodities-API is like a bridge, which will connect us with the main commodity exchanges in the world. In this way, we will be able to see the prices of raw materials (WTI crude oil in your case), quickly and easily. All this, with a precision of 2 decimal places and an update frequency of 60 seconds (depending on the plan you choose).
Where does it get the information from? Is it reliable and up to date with current prices?
Currently, there are a total of 15 data sources, which ensure 100% accuracy of the information provided. Clients such as Barrick, Metex, Mansour, Injective Protocol, have already demonstrated their satisfaction by using this platform. Commodities-API, of course, includes the major US commodity exchanges.
We recommend you go to its website and read the documentation on how to use this service. If you have any questions, please feel free to contact Commodities-API customer service or email [email protected].
Also published on Medium.