Do Soap, Wax, or Oil Have Any Special Effects on Magnetic Fields Around Them? I'm curious if these materials affect magnetic fields. Came from a thought about wax used to reduce friction for skateboarding grinds.
 A: No.
Closest things, where oil and magnets somehow are working together are oil + nano particles of iron oxide that is attracted to magnet, especially if it is also rheoscopic, oil volume that is under magnetic field and can change light polarization,
1 and 2 rely on particles in liquid. 3 relies on interaction with light. Nothing of oil and magnetic fields reacting directly.
With electric fields there is electrospray where oil can be accelerated using the electric field, so can air. Keep in mind that this youtuber has questionable safety procedures.
A: Actually this is not simple Yes/No question.
Actually, there is inherent diamagnetism in every material, which can be derived using quantum mechanics. https://en.wikipedia.org/wiki/Diamagnetism
Therefore, strictly speaking, every material interacts to the magnetic field.  Of course, when we call "Magnetic material", we usually refer paramagnet, ferromagnet, ferrimagnet, etc.
Although the materials you mentioned have no such "Magnetic" properties, they have at least quantum mechanical diamagnetism. On the other hand, when the soap is dissolved in water, the ions in soap has electric charge, and will show diamagnetism which can be explained through plasma physics.
