Transformer oil analysis reveals both oil condition and evidence of internal transformer faults. DGA indicates whether thermal overheating, arcing, or partial discharge is occurring by showing characteristic gas patterns. Moisture and BDV indicate dielectric robustness and risk of discharge, while acidity and interfacial tension indicate oxidation and sludge formation risk. Furan compounds provide insight into paper insulation aging. Together, these results support decisions on loading, maintenance priority, and whether to install online monitoring. The most valuable insight usually comes from trends over time rather than single test results, especially for DGA and moisture in the paper oil system.