Abstract: Furnace black products are disclosed which have a particle size of at least 15 millimicrons, a dibutylphthalate absorption (DBP) not exceeding 120 c.c./100 gms., a nitrogen surface area of at least 500 m.sup.2 /gm., and a volatile content no greater than about 3 weight percent. The volatile and oxygen content of these blacks can be substantially increased by reaction with an oxygenating agent, such as nitric acid, to provide oxygenated carbon blacks which are useful in xerographic toner compositions.In accordance with the present invention, the furnace black products can be produced in an oil furnace process wherein a stream of liquid water intersects a liquid stream of feedstock hydrocarbon after streams of both liquids have been injected into a heated carbon black furnace. When the water stream contacts the liquid feedstock stream it is relatively cold in comparison to the temperature of the feedstock.