The newest report is we will be seeing cooking oil shortages due to current events. Some shoppers are reporting that sunflower oil is very difficult to find. The food industry is sounding the warning over palm oil shortages. Both of these oils along with canola oil are cause for concern because the food industry relies heavily on these oils for commercially produced baked goods. Shortages therefore can have a huge impact for that industry. Substituting another oil is not easy as it would likely increase price something that really isn't desirable given the high inflation rates right now.
If you are a home baker/cook, shortages of these oils likely won't affect you. If you can't find one oil, you can likely substitute another oil If you also make your own soaps, then palm oil may or may not affect you. I use palm oil for soap making so expect to see an increase in price when I next order. Other than that, I'm really not concerned.
Oils can be purchased in larger quantities but should be stored in a cool, dark location. At higher temperatures, oils can become rancid. Do not ingest or use rancid oils for cooking. If you do not have a cool, dark location, oils can be stored in the refrigerator to extend their life. Some oils will get a bit cloudy if stored in the fridge but that is perfectly normal.
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