You have more torque when you apply the force because it lets you apply the force over a larger distance. [Here’s a crude pic](https://i.imgur.com/SxoTa2i.png), but the point is: the longer the wrench, the bigger the difference between how far the wrench moves and how far the bolt moves. By compressing a long inch wrench turn into a short bolt turn, it multiplies the force.
(Less ELI5: work = force x distance. The work is constant and cannot disappear, so the bolt moving a shorter distance than the wrench handle where you’re pushing *must* experience a higher force)
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