Extra virgin olive oil is the best oil for cooking. All olive oils contain mono-saturated fats, which have been shown to keep harmful cholesterol low and beneficial cholesterol high. Extra virgin olive oil contains phenolic antioxidants, which help reduce tissue swelling and inflammation.
Extra virgin olive oil has also been shown to decrease risk of cancer, heart disease, Alzheimer's disease and blood clotting. It has a distinct flavor that improves the overall taste of the food being cooked. Extra virgin olive oil has a low smoke point, so it's best used with food that does not need to be cooked at a high heat.