March RBOB traded lower in early morning action after establishing a new contract high during Monday's action. It appears that recent upside in RBOB pricing has come from growing unrest in Egypt and the threat of supply disruptions in the Suez Canal. The IEA released comments during Monday's session that tried minimize the threat of a closure to the canal, and that may have sparked some of the early price weakness today. Meanwhile, the latest retail cash data from the EIA indicated that gasoline prices fell $0.09 to a new nine-week low of $3.101 per gallon.