Hydraulic fluid is a good quench-oil, but very toxic and canerogene when vapourized or burned. Most synthetic oils are toxic, because none of them were ment to be burned.
Mineral oil is the professional choice, but relatively expensive.
Over here I only use olive oil, for two reasons: 1. it smells good and is not toxic
2. it costs me about $ 3 USD for 5 liter from a local restaurant. And those things come in a tin can! I just cut the top off and voila, your perfect quench bath.
greetz, Bart.