Key Findings: Highly refined peanut oil is non-allergenic, making it exempt as a food allergen under the Food Allergen Labelng and Consumer Protection Act of 2004. The major fatty acids in peanut oil are palmitic, oleic, and linoleic acids. Peanut oil is considered a premium oil for cooking and frying because of its excellent stability under high temperatures. Nutritionally, it also contains more phytosterols than olive oil. Phytosterols help to lower cholesterol levels and have also been found to protect against breast, colon, and prostate cancers. Further, peanut oil contains niacin and vitamin E, both of which have been found to protect against Alzhiemer's.