Oil has shot up to more than $100 per barrel, once again, and there are a number of ways for investors to profit. Below, Fool contributor Travis Hoium explains why he likes service providers more than explorers, and gives the names of five stocks that will benefit from high oil prices without taking high risk in the commodity itself. 

Fool contributor Travis Hoium manages an account that owns shares of Seadrill. The Motley Fool recommends Halliburton and Seadrill. The Motley Fool owns shares of Seadrill and Transocean. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.