Update privilege is not enough for update

I receive error
SELECT command denied to user '...' for column '...' in table '...'
while trying to execute UPDATE command on modifiable view with UPDATE privilege granted. I found that execution gets error unless SELECT privilege is granted. In Oracle database I can have only UPDATE privilege and it's enough for command to complete. Is that designed behavior? Is there any system parameter to avoid assigning SELECT privilege along with UPDATE to keep current privileges?