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ATF duplicates whale oil, which is generally consider the "finest" oil there is - used to be the standard for lubricating watches when watches needed lubrication.
Point is, it is an inexpensive lubricant for any fine parts, and does not leave a residue.
Lots of people don't realize that until the 1950's ATF was whale oil.
ATF: One of the prime ingredients of "Ed's Red" cleaner/lubricant which I make and use on my firearms!