The TSX moved lower for the second day in a row on Wednesday, down 20.06 points to 11,696.63 as the oil price declined amid increasing inventories.

Crude for September delivery slid 51 cents to $76.99 a barrel as the U.S. Energy Information Administration reported Wednesday that U.S. commercial crude inventories increased by 7.3 million barrels last week. The TSX energy sector ended the day down 1.3%.

Elsewhere, the TSX Global Gold index added 0.9% as gold for August delivery climbed $2.40 to $1,160.40 an ounce. The TSX Venture also moved higher, up 14.36 points to 1,410.62.

In economic news, the U.S. Census Bureau released its advance report on durable goods shipments, inventories and orders for June, saying that new orders for manufactured durable goods decreased by $2 billion to $190.5 billion last month.

On the TSX, Husky Energy (TSX: T-HSE) announced its second quarter results, including net earnings of $266 million or 31 cents per share, compared with $430 million or 51 cents per share in the same quarter last year. The company says total production in the quarter averaged 283,900 barrels of oil equivalent per day compared with 317,200 barrels of oil equivalent per day in Q2 2009, impacted by lower production from the main White Rose field and lower natural gas and heavy oil production as a result of reduced capital expenditures in 2009. Husky also said that it has signed a letter of intent to purchase natural gas properties in Alberta. Shares of Husky Energy ended the day down 3.75% to $25.40.

And, Teck Resources (TSX: T-TCK.B) reported earnings of $260 million or 44 cents per share in the second quarter compared with $570 million or $1.17 per share in the same quarter last year. Teck says revenues from operations were $2.1 billion in the second quarter compared with $1.7 billion in Q2 2009. Shares of Teck Resources gave back 1.45% to $35.38.