Combine the water and granulated sugar in a small saucepan and bring to a boil. Once the sugar has dissolved and begins to boil, turn off the heat.
Prepare the Halva:
Melt the butter and vegetable oil in a wide, heavy-bottomed pot over medium heat.
Add the flour to the melted butter-oil and stir continuously with a wooden spatula.
Lower the heat and cook for about 25-30 minutes, stirring frequently, until it turns liquidy and darkens.
While stirring, pour the prepared syrup into the cooked flour mix, then increase the heat to medium. Keep stirring until the mixture thickens. Turn off the heat when it's well combined, and stir vigorously for about 5 more minutes.
Cover the pot and let the halva sit for 15 minutes.
Using a spoon or a cookie scoop, shape the halva into bite-sized portions.