Not an expert but summarising the conversation with the guy in the woodworking shop.
Apparently it’s a product that came out of Germany for the finishing of timber floors but has found uses in woodworking more generally.
https://www.whittlewaxes.com.au/collections/hardwax-oils
The link above takes you to the manufacturer’s page for the product recommended to me. Looking at the sample pieces in store I am leaning towards the matte finish for this project but they all looked good. This particular brand is food safe and low odour whilst curing.
The clear product highlights the grain with minimal darkening of the wood. Soft woods are thirstier than hardwoods, material coverage is about 50% higher than other oils, so easy to over apply and result in needing to wipe off excess to avoid a tacky dust magnet surface. From what I am told, not used it yet.
Stained versions are available if that suits your needs.
It has the benefits of oiling then waxing in a straightforward application process. Brush, roller, rag, or scotch-Brite pad (this method was recommended to me) applied. Light sand between coats.
The oils penetrate the wood and the wax forms a more protective layer at the surface that develops over a week or so as they polymerise. Quite interesting material science if you want to geek out about it.
Like a lot of finishing oils the curing and out-gassing is exothermic so risk of spontaneous combustion of screwed up rags needs to be guarded against with simple precautions.