| When an object is pushed into a liquid, it feels the forces of gravity, which pulls it down and buoyancy which pushes it up.
Ice and cooking oil have almost the same density so a block of ice put into oil will barely move. As the water melts, it turns into denser, liquid water. The water tends to stick to the ice for a while. If there is enough liquid water on the ice, then the density of the ice and water together is greater than the oil, so they will sink. Once the of water falls off the ice, the ice float.
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