Markets digested the latest developments, weighing the long-term implications of already lost crude supply and the ongoing closure of the Strait of Hormuz on emerging, energy-importing countries in Asia. “The conflict appears to have moved into a prolonged standoff rather than towards a swift or durable resolution,” MUFG analysts wrote in a note. “For markets, this environment implies continued disruption to energy flows through the Strait of Hormuz.” Asian currencies also came under pressure: the Indonesian rupiah weakened to 17,185 a dollar, within striking distance of its all-time low of 17,193 a piece.  The rupiah has been under sustained pressure since the Middle East war broke out in late February, losing over 2 per cent to become one of the worst-hit regional currencies. All eyes are on Bank Indonesia’s monetary policy meeting later in the day, where the central bank is expected to keep rates unchanged. “BI is not expected to face immediate pressure to tighten policy, instead prioritising financial market stability in the near term,” said Radhika Rao, senior economist at DBS Bank. “Potential …