All oils are 100 percent fat, and all oils contain 14 grams of fat and 120 calories per tablespoon.
Some oils contain more monounsaturated fat ( olive-77%,canola-62, peanut-49, butter-30, corn-25, safflower-13, coconut-6.5) than others. Some studies claim this to be beneficial for heart health.
Whatever the source of your oil, always smell and taste itl before deciding whether to use or not. Oils are volatile and can lose their flavors and go rancid when exposed too long to heat, moisture, air or light. Rancid fat not only spoils the taste of baked goods, but it is unhealthy to ingest. Store oils in opaque containers in a cool, dark place. You can also refrigerate if you wish, but keep in mind that oil may become cloudy when cold, although will clarify as it warms to room temperature.
For very light tasting cakes, use exclusively odorless-tasteless oils or mixes that won't alter the taste.
For mildly flavored, you can use any vegetable oil even cold pressed olive oil that is graded extra-light.
Delicately flavored oils can be used with stronger flavored cakes, such as spice, chocolate or pumpkin.
Cold pressed extra-virgin oil, with its more robust olive taste and aroma, is NOT recommended for cakes.
BTW, my mom was a bio-chemist... and provided lots of facts to my daily life