The significant uncertainty, volatility, and high levels of harmonics resulting from the increased integration of new energy sources impose stricter operational demands on substation equipment. As a critical piece of high-voltage electrical equipment, a transformer fault can compromise the stability of the entire power grid. Among the most severe faults is an internal short-circuit arc fault, which, if not accurately detected and addressed promptly, could lead to explosions or even power outages. Therefore, studying the characteristics of industrial frequency arcs in transformer oil and proposing effective explosion-proof measures for transformers is crucial. Given the high risk and cost associated with arc testing, a simulation approach is employed in this study. The paper analyzes current attenuation waveforms under various parameter combinations using a capacitor-inductor resonance simulation circuit. The optimal capacitor-inductor parameter combination is identified, laying the groundwork for future applications of the capacitor-inductor resonance method in simulating arc tests in oil.