Oils that are suitable for high-temperature frying (above 230°C/446°F) because of their high smoke point:
Avocado oil
Corn oil
Mustard oil
Palm oil
Peanut oil (groundnut oil)
Rice bran oil
Safflower oil
Sesame oil (semi-refined)
Soybean oil
Sunflower oil
.
Oils suitable for medium-temperature frying (above 190°C/374°F) include:
Almond oil
Cottonseed oil
Diacylglycerol (DAG) oil
Ghee, Clarified butter
Grape seed oil
Lard
Olive oil (Virgin, and refined)
Rapeseed oil (Canola oil, vegetable oil)
Mustard oil
Walnut oil
.
Unrefined oils should not be used for frying, but are safe for simmering
http://en.wikipedia.org/wiki/Cooking_oil