Commodities Trading API
Category: Financial Services | Industry: Trading & Investment
Energy commodities are among the most actively traded assets globally. OilPriceAPI provides institutional-quality price data for oil, natural gas, coal, and related commodities, enabling traders, analysts, and financial applications to access real-time and historical market data.
The Challenge
Commodities traders and financial analysts face data quality and access challenges:
- Data fragmentation across multiple sources creates inconsistency
- High costs for institutional data feeds limit accessibility
- API complexity of traditional providers increases integration time
- Latency concerns impact trading decision quality
- Historical data gaps complicate backtesting and analysis
- Multi-commodity coverage requires multiple subscriptions
Without reliable, affordable access to commodity price data, smaller trading operations and fintech applications struggle to compete effectively.
The Solution
OilPriceAPI delivers comprehensive commodity price data through a developer-friendly API, making institutional-quality data accessible for trading applications, financial models, and market analysis tools.
Key Benefits
| Benefit | Impact |
|---|---|
| 220+ commodities | Broad coverage in a single API |
| Real-time updates | Current market prices for active trading |
| Historical depth | Backtesting and trend analysis support |
| Simple integration | REST API with clear documentation |
| Affordable pricing | Accessible for startups and smaller firms |
Commodity Coverage
| Category | Examples |
|---|---|
| Crude Oil | WTI, Brent, Dubai, Urals |
| Refined Products | Gasoline, Diesel, Jet Fuel, Heating Oil |
| Natural Gas | Henry Hub, Dutch TTF, JKM LNG |
| Coal | Newcastle, CME, PRB, Illinois Basin |
| Marine Fuels | VLSFO, MGO, HFO across major ports |
| Carbon | EU ETS Carbon Credits |
| Currencies | EUR/USD, GBP/USD |
| Drilling | US, Canada, International Rig Counts |
Relevant API Endpoints
Get Real-Time Prices
Retrieve current prices for trading decisions:
# Get major oil benchmarks
curl "https://api.oilpriceapi.com/v1/prices/latest?by_code=WTI_USD,BRENT_CRUDE_USD" \
-H "Authorization: Token YOUR_API_KEY"
# Get all latest prices
curl "https://api.oilpriceapi.com/v1/prices/latest" \
-H "Authorization: Token YOUR_API_KEY"
Response:
{
"status": "success",
"data": {
"price": 78.45,
"formatted": "$78.45",
"currency": "USD",
"code": "WTI_USD",
"created_at": "2025-01-15T15:30:00.000Z",
"type": "spot_price",
"source": "oilprice.business_insider"
}
}
Historical Price Data
Access time-series data for analysis and backtesting:
# Past year of WTI with weekly aggregation
curl "https://api.oilpriceapi.com/v1/prices/past_year?by_code=WTI_USD&interval=1w" \
-H "Authorization: Token YOUR_API_KEY"
# Past month of natural gas with daily averages
curl "https://api.oilpriceapi.com/v1/prices/past_month?by_code=NATURAL_GAS_USD&interval=1d" \
-H "Authorization: Token YOUR_API_KEY"
# High-frequency data for intraday analysis
curl "https://api.oilpriceapi.com/v1/prices/past_week?by_code=BRENT_CRUDE_USD&interval=1h" \
-H "Authorization: Token YOUR_API_KEY"
List Available Commodities
Discover all available commodity codes:
curl "https://api.oilpriceapi.com/v1/commodities" \
-H "Authorization: Token YOUR_API_KEY"
Premium Endpoints
Access advanced data for professional trading:
# Get all prices in one call
curl "https://api.oilpriceapi.com/v1/prices/all" \
-H "Authorization: Token YOUR_API_KEY"
# Marine fuel prices across ports
curl "https://api.oilpriceapi.com/v1/prices/marine-fuels" \
-H "Authorization: Token YOUR_API_KEY"
Integration Examples
Trading System Integration
Build commodity price feeds into your trading platform:
import requests
from datetime import datetime, timedelta
from typing import Dict, List
import statistics
class CommodityTradingAPI:
def __init__(self, api_key):
self.api_key = api_key
self.base_url = 'https://api.oilpriceapi.com/v1'
self.headers = {'Authorization': f'Token {api_key}'}
def get_current_prices(self, commodities: List[str]) -> Dict:
"""Get current prices for specified commodities."""
response = requests.get(
f'{self.base_url}/prices/latest',
params={'by_code': ','.join(commodities)},
headers=self.headers
)
return response.json()
def get_spread(self, commodity_a: str, commodity_b: str) -> Dict:
"""Calculate spread between two commodities."""
data = self.get_current_prices([commodity_a, commodity_b])
# Parse response for both commodities
prices = self._parse_prices(data)
if commodity_a in prices and commodity_b in prices:
spread = prices[commodity_a] - prices[commodity_b]
return {
'commodity_a': commodity_a,
'commodity_b': commodity_b,
'price_a': prices[commodity_a],
'price_b': prices[commodity_b],
'spread': round(spread, 2),
'spread_pct': round((spread / prices[commodity_b]) * 100, 2)
}
return {'error': 'Could not calculate spread'}
def _parse_prices(self, data) -> Dict[str, float]:
"""Parse API response to extract prices by code."""
prices = {}
if data.get('status') == 'success':
d = data.get('data', {})
if isinstance(d, dict) and 'code' in d:
prices[d['code']] = d['price']
elif isinstance(d, list):
for item in d:
prices[item['code']] = item['price']
return prices
def analyze_trend(self, commodity: str, days: int = 30) -> Dict:
"""Analyze price trend for a commodity."""
endpoint = 'past_week' if days <= 7 else 'past_month' if days <= 30 else 'past_year'
response = requests.get(
f'{self.base_url}/prices/{endpoint}',
params={'by_code': commodity, 'interval': '1d'},
headers=self.headers
)
data = response.json()
prices = [p['price'] for p in data['data']['prices']]
current = prices[0]
avg = statistics.mean(prices)
std_dev = statistics.stdev(prices) if len(prices) > 1 else 0
# Calculate momentum
if len(prices) >= 5:
short_ma = statistics.mean(prices[:5])
long_ma = statistics.mean(prices)
momentum = 'bullish' if short_ma > long_ma else 'bearish'
else:
momentum = 'insufficient_data'
return {
'commodity': commodity,
'current_price': current,
'average': round(avg, 2),
'std_deviation': round(std_dev, 3),
'min': min(prices),
'max': max(prices),
'volatility_pct': round((std_dev / avg) * 100, 2),
'momentum': momentum,
'z_score': round((current - avg) / std_dev, 2) if std_dev > 0 else 0
}
def get_correlation_data(self, commodities: List[str], days: int = 30) -> Dict:
"""Get historical data for correlation analysis."""
endpoint = 'past_month' if days <= 30 else 'past_year'
results = {}
for commodity in commodities:
response = requests.get(
f'{self.base_url}/prices/{endpoint}',
params={'by_code': commodity, 'interval': '1d'},
headers=self.headers
)
data = response.json()
results[commodity] = [
{'date': p['created_at'], 'price': p['price']}
for p in data['data']['prices']
]
return results
def calculate_brent_wti_spread(self) -> Dict:
"""Calculate the Brent-WTI spread (common trading indicator)."""
return self.get_spread('BRENT_CRUDE_USD', 'WTI_USD')
def calculate_crack_spread(self) -> Dict:
"""Calculate 3-2-1 crack spread approximation."""
commodities = ['WTI_USD', 'GASOLINE_USD', 'HEATING_OIL_USD']
prices = self._parse_prices(self.get_current_prices(commodities))
if all(c in prices for c in commodities):
# Simplified crack spread: 2*gasoline + 1*heating oil - 3*crude
# Note: Actual calculation requires barrel conversions
crude = prices['WTI_USD']
gasoline = prices['GASOLINE_USD'] * 42 # gallons to barrel approximation
heating_oil = prices['HEATING_OIL_USD'] * 42
crack_spread = (2 * gasoline + heating_oil) / 3 - crude
return {
'crude_price': crude,
'gasoline_price': prices['GASOLINE_USD'],
'heating_oil_price': prices['HEATING_OIL_USD'],
'crack_spread': round(crack_spread, 2),
'note': 'Simplified calculation - actual spread requires precise barrel conversions'
}
return {'error': 'Could not calculate crack spread'}
# Usage example
trading = CommodityTradingAPI('YOUR_API_KEY')
# Get Brent-WTI spread
spread = trading.calculate_brent_wti_spread()
print(f"Brent-WTI spread: ${spread['spread']}")
# Analyze WTI trend
trend = trading.analyze_trend('WTI_USD', days=30)
print(f"WTI momentum: {trend['momentum']}, Z-score: {trend['z_score']}")
JavaScript/Node.js Financial Application
class CommodityDataService {
constructor(apiKey) {
this.apiKey = apiKey;
this.baseUrl = 'https://api.oilpriceapi.com/v1';
}
async getPrices(commodities) {
const response = await fetch(
`${this.baseUrl}/prices/latest?by_code=${commodities.join(',')}`,
{
headers: { 'Authorization': `Token ${this.apiKey}` }
}
);
return response.json();
}
async getHistoricalPrices(commodity, interval = '1d', period = 'past_month') {
const response = await fetch(
`${this.baseUrl}/prices/${period}?by_code=${commodity}&interval=${interval}`,
{
headers: { 'Authorization': `Token ${this.apiKey}` }
}
);
return response.json();
}
async buildPriceMatrix(commodities) {
const matrix = {};
for (const commodity of commodities) {
const data = await this.getHistoricalPrices(commodity, '1d', 'past_month');
matrix[commodity] = data.data.prices.map(p => ({
date: p.created_at,
price: p.price
}));
}
return matrix;
}
async calculateVolatility(commodity, days = 30) {
const data = await this.getHistoricalPrices(commodity, '1d', 'past_month');
const prices = data.data.prices.map(p => p.price);
// Calculate daily returns
const returns = [];
for (let i = 1; i < prices.length; i++) {
returns.push((prices[i - 1] - prices[i]) / prices[i]);
}
// Calculate standard deviation of returns
const avgReturn = returns.reduce((a, b) => a + b, 0) / returns.length;
const variance = returns.reduce((sum, r) => sum + Math.pow(r - avgReturn, 2), 0) / returns.length;
const dailyVol = Math.sqrt(variance);
// Annualize volatility
const annualizedVol = dailyVol * Math.sqrt(252);
return {
commodity,
dailyVolatility: Math.round(dailyVol * 10000) / 100,
annualizedVolatility: Math.round(annualizedVol * 10000) / 100,
period: `${days} days`
};
}
async getMarketSnapshot() {
const keyBenchmarks = [
'WTI_USD', 'BRENT_CRUDE_USD', 'NATURAL_GAS_USD',
'GASOLINE_USD', 'DIESEL_USD', 'JET_FUEL_USD'
];
const current = await this.getPrices(keyBenchmarks);
// Get yesterday's prices for change calculation
const historical = await this.getHistoricalPrices(keyBenchmarks[0], '1d', 'past_week');
return {
timestamp: new Date().toISOString(),
benchmarks: current.data,
marketStatus: 'live'
};
}
}
// Portfolio energy exposure analysis
const dataService = new CommodityDataService(process.env.OILPRICE_API_KEY);
const volatility = await dataService.calculateVolatility('BRENT_CRUDE_USD', 30);
console.log(`Brent annualized volatility: ${volatility.annualizedVolatility}%`);
const snapshot = await dataService.getMarketSnapshot();
console.log('Market snapshot:', snapshot);
Use Cases
1. Algorithmic Trading
Feed real-time commodity prices into trading algorithms and automated execution systems.
2. Portfolio Risk Analysis
Calculate energy commodity exposure and volatility metrics for portfolio risk management.
3. Spread Trading
Monitor and trade spreads between related commodities (Brent-WTI, crack spreads, calendar spreads).
4. Market Research
Access historical data for quantitative analysis, backtesting, and market research reports.
5. Fintech Applications
Build commodity price features into financial apps, robo-advisors, or investment platforms.
6. Price Alert Systems
Trigger notifications when commodities reach specific price levels or volatility thresholds.
ROI and Value Proposition
| Metric | Typical Improvement |
|---|---|
| Data integration time | 90% faster than traditional providers |
| Cost reduction | 60-80% vs. institutional data feeds |
| Coverage breadth | Single API for 220+ commodities |
| Development velocity | Hours instead of weeks to integrate |
For a quantitative trading operation spending $50,000+ annually on data feeds, OilPriceAPI can reduce costs by $30,000-40,000 while providing comparable coverage.
Customer Success Story
"We switched from a legacy data provider to OilPriceAPI for our commodity trading desk analytics. Integration took one day instead of two weeks, and we cut our data costs by 70% while maintaining the coverage we needed for our energy-focused strategies."
-- [Customer Success Story Placeholder]
Getting Started
- Sign up at oilpriceapi.com/signup
- Get your API key from the dashboard
- Explore commodities using the list endpoint
- Integrate real-time and historical data into your systems
- Build trading signals, risk metrics, and analytics
Related Resources
- API Reference - Complete endpoint documentation
- Commodities List - All available commodities
- Historical Prices - Time-series data
- WebSocket Streaming - Real-time price updates
- API Authentication - Secure access setup