Teak oil needs to be frequently redone. It will quickly fade and black spots will appear. It is an endless cycle of maintenance on a short interval.
Teak is a difficult wood to finish because of its high oil content. Varnish will lift and blister, oil turns black, Cetol is ugly, epoxy will lift and peel.
Notice many new boats have very limited amounts of teak above deck. There is a reason for that.
Cetol Natural Teak has won some followers. Its advantage is its porosity. Moisture and oil in the wood can pass through the finish without lifting it. The original Cetol is a horrid orange color and tends to be very opaque.
One product that might be worth looking at (I am) is
Semco Teak Finish. I'm considering it for my toe rails. On other exterior teak I've used
Epifanes Gloss Wood Finish with good results. Put on lots (6+ coats) the first time and a couple of maintenance coats every couple of years.