Yeah, that's the reality, as it most often is. And then there is the price of crude that eagerly looks for emotional reasons to swing the price way beyond rationality. But, yeah, profits are made.
If I ran a refinery that took in oil from overseas, this would be a time I would want my crude oil tanks topped off in case of a disruption in the near future.
Several hundred refineries around the world make that decisions, bumping up the short term demand, will raise prices.
Most production unaffected means some is shut down. I suspect some will be shut down for a while.