As I think, no cooking oil is good for health, I mean avoiding cooking oil is better. Every cooking oil has some negative impacts on body. Anyway, the following links contain some important information for your question.
It depends on what you are going to do with it. If using an oil unheated, then olive oil has some beneficial effects. If cooking with the oil, rapeseed oil or groundnut oil are better as they are more stable at high temperatures. Of course all oils are fat and too much fat will, at the very least, encourage weight gain. But you do need some fat in your diet so chosing healthier oils would make sense.
All edible oil may be good and /or bad impact on human health depend on different items such as extraction techniques, processing, packaging, storage, and handling.
Sunflower oil, corn oil and other vegetable oils are unstable at high temperature and quickly break down into toxic adelhyde
As olive oil heats up and reaches its smoke point, the beneficial compounds start to degrade, and potentially health-harming compounds form.
Aldehydes, which are known promoters of cancer, heart disease and dementia when eaten or inhaled, were present in levels up to 20 times higher than recommended by the World Health Organisation Cooking oils can be divided according to their origin and structure. When it comes to origin, the most common cooking oils are vegetable oils and seed oils.
Vegetable oils are extracted from plants and can be either consumed directly or as ingredients in the food. Vegetable oils include peanut oil, soybean, olive etc. Seed oils are obtained from the seeds of plants, rather than the fruits. Some seed oils are almond oils, canola oil, coconut oil, sesame oil, etc.
Oils contain a combination of three types of fats monounsaturated, polyunsaturated, and saturated.
Monounsaturated fats are fat molecules which contain one unsaturated carbon bond in the molecule (also called “double bond”). Oils that are consisted of monounsaturated fats are usually liquid at room temperature but start to solidify when exposed to cold temperatures. Example of monounsaturated fat is olive oil.
Polyunsaturated fats are fat molecules which contain more than one unsaturated carbon bond. An Example of polyunsaturated fat is canola oil.
Saturated fats are fat molecules that don’t have any unsaturated carbon bonds. Unlike polyunsaturated and monounsaturated fats, these fats when included in oil are solid even at room temperature. Example of oils that contain saturated fats is coconut oil.
Aldehydes are ubiquitous compounds in the environment and toxic levels are primarily the result of anthropogenic input. Combustion of organic substrates generates high levels of a number of diverse aldehydes, and diversity is in part a function of combustion temperature or pyrolysis. Thus, burning of fuels (coal, diesel, and gasoline) generates a high molar percentage of reactive aldehydes, but there is also generation of volatile aldehydes during cooking of foods and especially in the presence of overheated cooking oils. Thus, the environment encompassing air, water, and food contains high levels of aldehydes and cumulative exposure to aldehydes through breathing, drinking, and eating is significant. A variety of studies have shown that the cardiovascular system is exquisitely sensitive to aldehyde exposure, especially the α,β-unsaturated aldehydesincluding acrolein and 4-hydroxy-trans-2-nonenal (HNE). Interestingly, these aldehydes are also generated endogenously during lipid peroxidation and inflammation, which makes it difficult to investigate and unravel the effects of exogenous exposures and endogenous generation. However, not all aldehydes appear to be toxic to the cardiovascular system including many of the aromatic aldehydes found in some foods, such as benzaldehyde (oil of almond) and cinnamaldehyde, both of which have low toxicity and stimulate relaxation in isolated blood vessels. However, many of the mechanisms by which aldehydes exert effects on cardiovascular tissues remain unknown or unexplored but in recent years, the effects of acrolein appear to be related to its unsaturated nature and its proclivity to form protein–acrolein adducts with reactive cysteine and lysine residues
The fat rich in polyunsaturated fatty acid is not good for cooking because the polyunsaturated fatty acids are oxidize faster under most cooking condition.