I can't imagine it could be leaking around the threads, so I would suspect it's the sensor itself that has popped a leak. Even that doesn't seem likely.
Luckily the sensor is a whole $4 at Autozone, so easy enough to replace & see if the leak goes away.
Sidebar: fluid leaks can be very difficult to trace back to the true source of the leak - not only does the fluid travel in the direction of gravity, there's all sorts of air turbulence in the engine compartment that could further confuse the picture.
Sometimes a good engine compartment cleaning and then checking helps.
1998 Taurus pressure sensor location; It is located on the firewall side between the head and the transaxile housing.
In between the radiator and the tire pressure gauge.
Roughly $350 in parts and $150 for labor.
It's on the front side of the block, just above oil filter.
It could be the fuel pump, fuel pressure sensor, or PCM
where is a knock sensor located for a 2001 Ford Taurus se
Fuel rail pressure sensor circuit failure/range/performance.
where is the transmission speed sensor located on a 2005 ford taurus
yes there is 2004 Ford Taurus Throttle Position Sensor - Partstrain.com
the answer to this question depends greatly on just what it is you have one on, whether a Taurus, Caprice Classic, or a 1942 Potatoe Packing Machine. the oil pump, the pressure sensor, the pressure guage,and the idiot~light may all be located in many different locations irrelevant to one another. Typically, the pressure sensor is located on the engine block, nearest the oil pump
The 1992 Ford Taurus is not equipped with a knock sensor. The Ford Motor Company has been producing the Taurus since 1985.
The attached to the "Related Question" below has links to Autozone's Chiltons Repair Manual - specifically the O2 sensor sections. Not only covers installation, but there are instructions on testing.