True. There is a Liquid you can put on top of eg marmalade which seals it from air. I think it is a from of liquid silicone (mind the final _e !) which I think is not aggressive to rubber.
Did a little research, and it seems like pure silicone oil is much less aggressive to rubber/latex than mineral oil (and you can get it from Amazon pretty cheaply).
Does anyone have any idea what the chemical differences between the two are that affect how they interact with rubber? I’d love to learn more.
Mineral oil, contrary to the remark in TFA, is 100% organic. Unlike olive oil, though, it's saturated. Does that matter? It's not exposed to air, so no. But olive oil goes cloudy when cold.
The watch is unlikely to have latex in it, but quite likely to have silicone parts and seals that might soften in silicone oil.
Olive oil, like any unsaturated oil, may go rancid on exposure to air. But in a sealed watch there will not be enough air.
("Organic", outside of agriculture, means "composed of carbon compounds". In practice, that usually means compounded by something alive, because life has been at the carbon for a long, long time.)