Note: Watco Danish Oil is a blend of about 75% Mineral Spirits with Raw Linseed Oil (not BLO), Modified Soya Bean Oil, Resins (esp. Alyd, no "Poly") and colorants (esp. Gilsonite). Other ingredients may be present.
Generally, so-called Danish Oils usually contain a variety of drying oils (linseed, soya, tung oil, etc.), various resins or varnishes, colorants, and solvents. There are no standards for the composition of "Danish Oil." One manufacture markets a so-called "Danish Oil" which only contains pure oil (Heat-treated Linseed Oil).
Usually the generic term "Danish Oil" is meaningless because there is no consistency between brands.
Blessings.