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Antifreeze, also known as coolant, is a bright yellow or green liquid that mixes with the water in cars, trucks and other vehicles to keep the radiators from freezing or overheating. Made from either ethylene glycol or propylene glycol, antifreeze and coolant change the freezing and boiling points of water. it is not water and it is not oil .
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Most modern coolants for general purpose are water soluable oil. The are easier to use and less damageing to environment. An examable would be valcool but their are many water based coolants available
is it oil
Typically it is an oil.