For oil, either sewing machine oil or TriFlow oil
For lubricant, either sewing machine lubricant (Singer brand is available on the notions wall of JoAnn's) or TriFlow lubricant.
Silicone lubricant is not good for sewing machines. Here is a link to wonderful information someone else posted a few days ago:
http://blog.sew-classic.com/2009/01/...g-machine.aspx