Marvel Mystery or Air Tool Oil are basically a very light oil, mixed with a mineral spirits solvent . They have very little cling and often wash away more oil than they leave behind.
The ATF does at least tend to wet and cling better over the long haul.
There are other fogging and rust preventative type oils out there that will cling to the metal ,even vertical surfaces. The Corrosion X is but one type. LPS, even WD-40 are now making long term corrosion inhibiting oils. I use Mobil "Vactra" oil which is a very sticky oil that is made to protect and lubricate sliding machine surfaces.Made from long chain oil stock it feels a bit like STP but not as thick. This stuff really hangs on! It is not easy to find however in small quantities. It has also been recently superceeded but just about any "way oil" would work.
Another one, sold by Boeing Aircraft for corrosion protection in aircraft is called "Boeshield". Looks, feells and smells a lot like thinned "Cosmolene" as used by the military.