Wizard Oil

Common, Other, item level 50, item 20750

Changed from Classic: the tooltip differs on the highlighted lines below.

Wizard Oil

Other

Requires Level 40

Use: While applied to target weapon it increases spell damage and healing by up to 30. Lasts for 30 minutes.

Sell Price: 10s

Changed from Classic (see below).

Classic's version

Trade Goods

Requires Level 40

Use: While applied to target weapon it increases spell damage by up to 24. Lasts for 30 minutes.

Sell Price: 10s