Bundled securities tracking energy were among the top performers Wednesday, as oil moved higher following the weekly inventory reports. The Energy Department said that crude stocks rose by 1.3 million barrels last week, gasoline stores fell by 3.7 million barrels, and distillate inventories tumbled by 3.6 million barrels.

The Oil Services HOLDRs ( OIH) ETF was rising by 2.8% to $142.06. The SPDR Oil & Gas Equipment Services ( XES) was gaining 2.4% to $30.01, and the iShares Dow Jones U.S. Oil & Gas Exploration Index ( IEO) ETF was higher by 2.3% to $49.70. The PowerShares Dynamic Energy Exploration ( PXE) ETF was adding 1.6% to $19.16.

Elsewhere, mining-related ETFs were also stronger. The Market Vectors Gold Miners ( GDX) ETF was gaining 1.6% to $39.01. The SPDR Metals & Mining ( XME) ETF was higher by 1.5% to $48.28.

The B2B Internet HOLDRs ( BHH) ETF was gaining 2.3% as holding CheckFree ( CKFR) was up 1.9%. The ETF was tacking on 5 cents to $2.19.

On the flipside, the Telecom HOLDRs ( TTH) exchange-traded fund slid as major holding AT&T ( T) fell nearly 3%.

Hawaiian Senator Daniel Inouye said late Tuesday he would welcome a delay to regulatory approval of AT&T's acquisition of BellSouth ( BLS). The Telecom HOLDRs was down 64 cents, or 1.9%, to $32.90.

Other telecom-related ETFs were lower, as well. The iShares Dow Jones U.S. Telecom ( IYZ) ETF was losing 35 cents, or 1.3%, to $28.04. The Vanguard Telecom Services ( VOX) ETF was lower by 56 cents, or 0.8%, to $70.30.