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Oil prices continued their upward trend for the fourth consecutive day on Tuesday on expectations that the US Federal Reserve will cut interest rates for the first time in more than ten years to support the growth in demand for fuel in the country.

Oil prices have slightly edged higher on China's factory data but are on track for a weekly loss.Brent crude futures were down $0.27 at $59.89 a barrel, while US West Texas Intermediate (WTI) crude futures were down $0.32 at $54.50 per barrel, reported Reuters.

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Industrial Wireless Sensor Networks (IWSN) Market - Global Forecast & Analysis (2012 - 2017) By Technology (Wireless HART, ISA100.11a, 6loWPAN, Proprietary, Other); By Components (Sensors, Microcontroller Chips, & Communication Modules); By Applications (Oil & Gas, Water and Wastewater, Food & Beverages, Automotive, Power, Chemicals, Metal & Mining, Pharmaceuticals, Paper & Pulp); By Geography (Americas, Europe, APAC, ROW)

Industrial Wireless Sensor Networks (IWSN) Market - Global Forecast & Analysis (2012 - 2017) By Technology (Wireless HART, ISA100.11a, 6loWPAN, Proprietary, Other); By Components (Sensors, Microcontroller Chips, & Communication Modules); By Applications (Oil & Gas, Water and Wastewater, Food & Beverages, Automotive, Power, Chemicals, Metal & Mining, Pharmaceuticals, Paper & Pulp); By Geography (Americas, Europe, APAC, ROW)

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French oil and gas company Total has started production on the Kaombo Sul floating, production, storage and offloading (FPSO) unit at the Kaombo project offshore Luanda in Angola.

Norwegian oil exploration and development company Aker BP has installed the Valhall Flank West topsides on the Valhall field, located offshore Norway in the North Sea.

Crude prices jumped more than 1% after Yemeni separatists carried out a drone attack on a Saudi Arabian oil facility during the weekend. Brent crude climbed 78 cents to $59.42 a barrel, while US crude gained 64 cents to trade at $55.51 per barrel, reported Reuters.

Independent oil and gas company Woodside has signed an agreement with Perth-based Blue Ocean Monitoring (BOM) to invest in technology innovation firm Blue Ocean Seismic Services (BOSS).