mold on my wood block table

Not true at all about oil on wood. The light mineral oils used for counters and salad bowls doesn't offer much protection, but some of it will be absorbed and it will reduce water penetration, particularly if moisture is wiped up quickly. Heavier oils used for furniture finishing- mostly based on boiled linseed oil or tung oil, can offer a great deal of protection. I use General Finishes Outdoor Oil, which has a very high solids content, a lot on outdoor furniture- even porous softwoods can be made nearly waterproof. Oil finishes need to be renewed regularly, as expansion and contraction of the wood will constantly open up new pores. Oils can be used to produce a surface finish, though not a very durable one.

I stand by my answer. Neither mineral oil nor beeswax do much to repel water, while water pretty effectively displaces oil. The oil-based finishes you mention are mixed with chemicals which are not food safe (and probably taste pretty bad, too). I use oil on furniture for its appearance and feel, but certainly not for protection from water.

The oils I mention are not intended for use with food, and are likely to contain organic solvents. They are, however, the only way to effectively protect outdoor furniture, unless you feel like using spar varnish or some such, in which case you will have to strip and refinish every few months. (Polymerizing) oil finishes in combination with wax can be a very effective indoor finish for objects that don't see a lot of wear- they will protect from spills long enough to clean them up, but not much more. That's really as much moisture protection as you get from common finishes such as nitrocellulose lacquer and shellac, which will be ruined by extensive contact with water- even polyurethanes are far from impermeable, particularly to vapor. They will offer more physical protection from abrasion and heavy handling.

Sounds good! Thank you!