So the item I pointed out is the heat sensor as I surmised. That made no sense before @MrChips post shows that that heater is inside the oil.
Now we see that the sensor is in contact with both the oil and the heating element. This arrangement allows the electronics to sense overheating by, for instance, operating it without oil.
Now we see that the sensor is in contact with both the oil and the heating element. This arrangement allows the electronics to sense overheating by, for instance, operating it without oil.




