Stay Updated On Hourly Crude Oil Prices With An API

Do you want to invest in crude oil? Do it quickly and safely through this crude oil prices historical data API!

Black, lighter than water, and made up of a combination of hydrocarbons, this substance is naturally found in subterranean deposits in the top strata of the earth’s crust. Its fractional distillation yields products of significant economic use, such as gasoline, kerosene, tar, solvents, etc.

Petroleum is made from a raw material that was mostly created by the aquatic plant and animal life that formerly existed in oceans, lagoons, river mouths, and close to the sea. Anaerobic bacteria attacked these leftovers in the muddy bottoms, removing their oxygen and leaving behind hydrocarbons, which are molecules of carbon and hydrogen.

The liquid that is present between the layers of the sedimentary rock is forced out by the immense pressure imposed by the sediments. Tens of kilometers of this liquid, the oil, move down the hill before it comes across a porous, mysterious rock, whose holes it fills. Store rock is the name of this rock. Oil is most commonly used for:

- As a primary raw material in the petrochemical sector.

- As a home and industrial fuel.

- As a fuel and lubricant.

The whole petrochemical sector uses oil as a raw material, which is one of its most significant uses. Petrochemicals account for 60% of commercially available chemicals and 80% of the organic market. Petroleum is used to make a variety of items, including fertilizers, plastics, antifreeze, detergents, synthetic rubber, dyes, explosives, plasticizing fibers, and solvents.

Oil production in recent months was 3.36 million barrels per day (bpd) in 2022. The largest producers are United States, Saudi Arabia, Russia, Canada, China, Iraq, United Arab Emirates and Brazil. Due to these production numbers, investors seek quick access to information and turn to currency exchange platforms such as Commodities-API.

- Register by creating an account on the website.

- Get an API Key

- Search for the commodities and currencies you have your eye on.

- Request an API Call in the website system and it will respond with an API response

Related posts:

After a storm hits your area, you want to ensure that your roof does not have any damage. Severe storms can bring all types of damage. A seasonal storm can have devastating effects even if you keep…