to prevent rust problem on hooks , fishing gear even maintaining the fishing line use allways normal coconut oil because it is fish friendly and coconut oil is also use in bait. it is time tested.remember before putting the hooks in to coconut oil make the hooks sundry properly otherwise fungus will occurs and regularly atleast once in a week put it in to sunlight for good maintanance.
you can also use peanut oil, sunflower oil, olive oil but for the sticky nature coconut oil is the best solution.
caution: dont use machine oil,engine oil or any natural oil having strong smell because it can be repulsive and can spoil your bait or prebait arrangements.
anangler by heart