I have recently been converted to oils as well!!
I had to roach my gelding's [long, luxurious] mane off last June because it had been so damaged by silicon-based detanglers, and around that same time I decided to "mix it up" and put coconut oil in his tail to see what happens. It was like magic!
The only downside I've found to coconut oil is that it hardens pretty solidly when temperatures drop below 60*F-ish, and can, as a result, make little oil-dreads in manes and tails.
Now that it's winter here, a winter mix [it rarely gets below 20* here, and this mix seems to stay liquid-y down to about that point] that I like is olive oil, argan oil, and mineral oil. They all soak in pretty well and leave his mane and tail extremely manageable, even days after the last application. They don't seem to hydrate the hair quite as well as coconut oil does, but they do work pretty well. :)
Fabio - 13 year old Arabian/Lipizzan gelding
Rest peacefully, Lacey.