I've always heard the reason to use peanut oil is due to its high smoke point. Googling 'oils for frying with high smoke points' yielded this link:
https://jonbarron.org/diet-and-nutrition/healthiest-cooking-oil-chart-smoke-points which says that refined soy, corn and sunflower oils have the same smoke point (450 F) as refined peanut oil. Refined canola oil is lower at only 400 F.