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One of the biggest benefits to grapeseed oil is the higher smoke point. Meaning it has less danger of burning and becoming a carcinogen. The higher the smoke point the hotter the oil can get before nutritional degradation occurs.
From The Grapeseed Oil Corp.
"High in antioxidants, Grapeseed Oil contains Vitamin E,
and a group of bioflavonoids known as procyanadins. High
flash points approx. 216° C=420° F.
Among all cooking oils, GS/Oil produces the least smoke &
less danger of burning.
Grapeseed Oil is a polyunsaturated oil that is rich in linoleic
acid. At 68 – 76%, it contains the highest amounts of
linoleic acid among any oil or food source. One of two
essential fatty acids that the human body can not produce.
One tablespoon of Grapeseed Oil provides nearly the
recommended daily allowance for Vitamin E. "
The University of Maryland Medical Center has some data on Grapeseed Extract and it's benefits.
Grapes are high in antioxidants but it doesn't necessarily transfer to the grapeseed oil. The health benefits of the oil lie in the fact that it increases high-density lipoprotein (HDL-C or "good cholesterol") levels and reduces LDL levels. I is a rich source of linoleic acid as Chris said.
Coconut oil is not good. Wikipedia has some good info explaining why. Hydrogenated coconut oil is bad. Fractionated coconut oil is better. Check out this link: http://en.wikipedia.org/wiki/Coconut_oil