What Happens When You Put Oxygen Near a Magnet? Oxygen is paramagnetic because each oxygen molecule contains two unpaired electrons that generate small magnetic moments. When oxygen is placed in a magnetic field, these unpaired electrons align slightly with the field, creating a weak attraction. In the gas phase this effect is almost impossible to see because the molecules are moving rapidly and the forces are very small. However, when oxygen is cooled and becomes a liquid, the molecules move mu