if possible store the wood indoors where climate control will pull the moisture out of it such as recommended for wood flooring before install. Once dried I would make a cheap pool of sorts out of sheet plastic to dip the wood in.
My choice would be that I'd now have a reason to buy a gallon of very useful linseed oil. But if cheap were the higher priority. I would go with the hydraulic oil, and diesel. Used motor oil does have toxins, and kids, and such will be in occasional contact. So I'd want something that was contact friendly.