I use camellia oil and then wrap my tools in a lint free cloth as my cellar workshop is very damp.
Don't pay over the odds for the oil from a tool supplier - typical cost is £7.50 for a 50m spray bottle. I buy a litre from Amazon for around £15 and use it by decanting it into a 100ml glass dropper bottle (good for screw threads and getting into joints, e.g. scissors, knives, etc) and and also use an oil dispenser which has a felt pad that you rub t oil onto your tools' surfaces.
Camellia oil is a natural vegetable oil that has been used for centuries by Japanese craftsmen and Samurai swordsmiths as protection against corrosion.
The cheapest place to buy the oil dispenser is Tyzack Tools.
https://www.tyzacktools.com/camellia-oil-applicator