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Spray a Bundt pan with nonstick cooking spray and dust it with flour tapping out he excess
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Pour the nuts into the bottom of the pan evenly; set aside
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In a mixing bowl, combine the butter, sugar, and vegetable oil
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Mix until well combined using an electric mixer; about 3-4 minutes.
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Add in the eggs one at a time mixing in between each addition
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Add in the extracts
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In a separate bowl, sift in the flour, baking powder, and pudding mix.
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Add half of the flour mix into the wet batter
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Pour in the milk
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Using the electric mixer, mix on a medium speed until the flour is no longer visible
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Add in the rest of the flour mix and the rum.
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Mix again until the flour is no longer visible. Be sure to scrap down the sides of the bowl.
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Pour the batter into the Bundt pan on top of the nuts.
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Gently shake and tap the pan to evenly distribute the batter.
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Bake for 50 to 60 minutes or until a toothpick inserted into the cake comes out clean.
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Allow the cake to cool while working on the glaze.