This guy knows some stuff. Good stuff, to boot.
There's also the option of "boiled" linseed oil (actual boiled linseed oil is a specialty - and priced accordingly - product, nowadays. Usually, that means linseed oil with chemical driers. Works fine for handles and furniture finishes, not so good for anything that touches food).
Personally, I tend to finish wood (at least, anything I'm leaving with a 'natural' finish) with a simple DIY product: A roughly 50:50 mix of beeswax and mineral oil. Probably not worth making up a batch for a one-off project, but it's handy stuff if you work with wood even occasionally - it can finish/condition wooden utensils (both ingredients are food-safe, unless you buy some really crude, industrial mineral oil), help furniture/joinery keep from cracking/swelling with humidity changes, add a subtle luster to more artistic projects, or lubricate your woodworking tools (great for saw blades and plane soles!). Just need drug store mineral oil (a few bucks for a bottle) and some beeswax, which may be a little harder/pricier to get. With coupons, you can get 1lb at US craft stores for about $6-8, if memory serves (don't quote me on that

). I use the desired storage jar in a pot of water on the stove as a pseudo-double boiler, melting the wax and adding in the oil. Stir to mix, and let cool. It'll turn into a greasy paste that soaks in, to a degree, but takes some time to lose the superficial greasiness. Avoid using if you want to handle the surface as soon as possible.
Also, consider a simple sanding, if the surface is a little rough.
Raw, if smooth, wood provides great traction and a subtle warmth that many prefer for tool handles. Experienced users often do nothing to a wooden tool handle except sand off the factory varnish.