Visualize the long-term oil price trend

In the previous video, you learned how to retrieve data from the Federal Reserve Economic Data (FRED) portal.

Here, you will use this new data source to visualize the oil price trend over the last 50 years, specifically, the Spot Crude Oil Price: West Texas Intermediate (WTI). DataReader, date, pandas as pd, and matplotlib.pyplot as plt have been imported.

This exercise is part of the course

Importing and Managing Financial Data in Python

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Exercise instructions

Use date() to set start to January 1, 1968, and set series to series code 'WTISPLC'.
Pass series as the data,'fred' as the data source, and start as the start date to DataReader(). Assign to oil_price.
Inspect oil_price using .info().
Plot and show the oil_price series with title 'Oil Price'.

Hands-on interactive exercise

Have a go at this exercise by completing this sample code.

# Set start date
start = ____

# Set series code
series = 'WTISPLC'

# Import the data
oil_price = DataReader(____, ____, start=____)

# Inspect the price of oil
oil_price.info()

# Plot the price of oil
____

# Show the plot
plt.show()

Edit and Run Code