Will treating the edges of laminate parquet flooring with teak oil improve water resistance?
I wouldn't use oil, that could interfere with the boards structure. Why not use the proper sealant? 

Silicone based I believe and it's supper thin, doesn't interfere with fitting at all. We always use it in kitchens, dining room, bathrooms etc. 
For example, the pic is from this page at Wickes in the UK Maybe there is something similar local to you?