Oil Temperature Sensor
WARNING: This page is about a different car, the 2013 Ford Mustang. However, it is still accessible from the selected car via links, so may be relevant.
The oil temperature sensor is a negative temperature coefficient thermistor that is hardwired to the PCM. The electrical resistance of the thermistor decreases as temperature increases, and the resistance increases as the temperature decreases. The varying resistance affects the voltage drop across the sensor terminals and provides electrical signals to the PCM corresponding to temperature.