Pyth Network Launches Real-Time Oil Market Data Feeds for WTI and Brent Crude Oil

Decentralised oracle provider Pyth Network has launched real-time oil market data feeds for West Texas Intermediate (WTI) and Brent Crude Oil.

Decentralised oracle provider Pyth Network has launched real-time oil market data feeds for West Texas Intermediate (WTI) and Brent Crude Oil. This officially expands the protocol’s data services to include energy markets.

The new price feeds will aggregate data from trusted financial sources such as exchanges, market makers, and index providers, making it accessible on over 80 blockchain networks. Storm Trade, a Telegram-based perpetual futures trading platform, will be the first DeFi protocol to integrate Pyth’s oil price feeds.

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These feeds will enable developers to build decentralised finance (DeFi) applications that are linked to energy markets, such as oil-based derivatives, perpetual futures, and other financial instruments. But as the team highlighted on their X account,

Pyth ETN Allows Exposure Without Holding Crypto

This development comes just a month after asset manager VanEck expanded its crypto product offerings to include a new Pyth Exchange Traded Note (ETN) in Europe.

As Crypto News Australia previously reported, the ETN —listed on Euronext Amsterdam and Euronew Next Paris— allows investors to gain exposure to the PYTH cryptocurrency, the token of the Pyth Network, without directly holding or managing the asset. This simplifies participation in the crypto market while tracking PYTH’s performance.

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A popular DeFi protocol built on Solana, Pyth Network utilises data from some of the biggest market makers in both crypto and traditional finance, including CBOE, Jane Street, OKX and Bybit. In other words, it works like a charm for data collection, which is protected and validated using advanced cryptographic techniques.

Marc Tillement, Director of the Pyth Data Association, said Pyth’s extensive coverage of over 500 price feeds allows projects to quickly access price data for more than 100 crypto markets. This permissionless access enables protocols to launch on new blockchains with minimal barriers.