Preheat your oven to 325°F. With cooking spray, spray the bottom and the sides of the a standard loaf pan. (Line with parchment paper if desired!)
In a large mixing bowl and using a metal whisk, whisk the melted and cooled butter, oil, and granulated sugar. Mix until well combined. About 1 minute.
Add the eggs one at a time, whisking well after each addition. Make sure they are at room temperature to ensure even mixing.
Whisk in the sour cream until the batter is smooth and creamy.
Add lemon zest, lemon juice, and lemon extract. Mix well to incorporate the lemon flavor into the batter.
With a rubber spatula, fold in the all-purpose flour, baking powder, and salt to the wet ingredients, mixing just until combined. Remember to scrape bottom of the bowl. Be careful not to overmix. If adding the yellow food dye, add a tiny bit from a toothpick
Pour the batter into the prepared loaf pan and smooth the top with a spatula.
Bake in the preheated oven for 50-60 minutes or until a toothpick inserted into the center comes out clean or a few crumbs. Let it sit for 10-15 minutes.
While the cake is cooling, prepare the lemon glaze. In a bowl, whisk together powdered sugar, lemon juice, and milk until smooth.
Transfer the cake to a wire rack and drizzle the lemon glaze over the warm cake. Allow the glaze to set before slicing.