1. Oil is heated in the fractionating column and the oil evaporates and condenses at a number of different temperatures
2. The many hydrocarbons in crude oil can be separated into fractions each of which contains molecules with a similar number of carbon atoms
3. The fractionating column works continuously, heated crude oil is piped in at the bottom and the vaporised oil evaporates and rises up the column and the various fractions are constantly tapped off at the different levels where they condense
Some of the products made from cracking are useful as fuels, since they have shorter chains than the alkanes you started with, making them more flammable so a better fuel