Agree with peanut oil comments (it also adds an authentically Asian flavor). But that grapeseed oil is a close runner up. I sometimes add a small amount of chili oil to the former (that combines soybean oil with chili powder---makes you strong).
I usually use sesame oil because of the great flavor it lends the dish. I believe it has a slightly lower smoke point than peanut oil, but it's not too far off. I've never caught it on fire, anyway (yet).
It's best to use something with a high smoke point so you can get your wok really hot without burning the oil -- peanut, especially, but also canola, coconut and grapeseed oil are good choices.
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