The Lego Moment: Anelasticity and Hysteresis in the Global Energy Market

Although energy disruptions affect liquidity, the system has stabilization mechanisms. When pressures are short-lived, markets adjust: inventories are replenished, flows are redirected, and prices stabilize, while large consumers restore balance through targeted purchases or a temporary reduction in demand. Even geopolitical tensions often de-escalate once the costs of escalation become apparent. The global energy system has weathered many crises in the past and can do so again, provided the disruptions do not drag on.

The real danger arises only when a crisis lasts four months or longer. At that point, the accumulated pressure collides with the system’s deeper weaknesses: high debt, limited liquidity, dependence on a few critical corridors, and a market that is more sensitive to risk. At this point, a new shock can turn a manageable crisis into a broader economic collapse.

NAFTEMPORIKI  / OPINIONS, Tuesday, April 14, 2026

Η στιγμή του Lego: Ανελαστικότητα και υστέρηση στην παγκόσμια ενέργεια