Snake oil is "normal", non-abrasive polish which adds length and saves the midlane energy for the backend. SO you wind up with about the same amount of overall hook with the shape of the hook (really the breakpoint) changed from arc to hard arc or hockey stick shape, depending on drilling, oil and release.

 

UFO is a special polish that should only be used when you want to add what's termed a "slip additive" to the surface or the coverstock.  It adds length but also reduces backend and overall hook. It needs a light abrasive like P3000 or P4000 grit pad or Resurrection to remove. It is much easier to remove than other slip-additive polishes.