As soluble oil is an emulsion it will not filter very well in an inline filter. Heed what mgj says and do the magnet trick, obviously it will not pick up non ferrous.
The alternative is use some muslin cloth and bag up the end of the inlet.
I have always had a metal basket under the inlet in the tank which catches 75% of the junk that gets washed down.
Thats why they are called settling tanks so that the fluid can dump the heavy bits and be re-cycled through the pump.
Clive