The health benefits of eating peanuts and peanut oil are significant. They are high in good fats and can help lower the risk of heart disease. Peanut oil is especially good for the heart because it has a lot of oleic acid. Eating peanuts can also lower the risk of type 2 diabetes and colorectal cancer. However, some people are allergic to peanuts, so they should avoid them. Overall, including peanuts and peanut products in your diet can have positive effects on your health.