Oil Refining: 3 Ways You Can Invest

Demand for refined petroleum products (think gasoline, diesel, and jet fuel) is through the roof these days. Oil refiners can't keep up with demand, which is sending refined-product prices higher. That's enabling refiners to capture wide margins (known as the crack spread) between where they buy crude oil and sell the refined products they produce.

These strong market conditions are a boon for refining companies, with many generating gushing profits. Here are three ways you can get in on the oil refining boom.

The most direct way to invest in the refining sector is to buy shares of an independent oil refiner. Several companies focus on refining, including Marathon Petroleum (NYSE: MPC), Valero, Delek US, PBF Energy, and Phillips 66.