In a large bowl mix together the flour, instant yeast, sugar and salt until well combined.
Make a well in the centre and add lukewarm water and oil.
Using a spatula, bring mixture together into a dough, then mix with hands until dough is smooth and leaves bowl clean. Place dough onto a lightly floured surface and knead for 5 minutes (you can also use a mixer with a dough hook). Stop to grease a mixing bowl with a few drops of olive oil then knead the dough again for 2-3 minutes.
Place dough in the greased bowl, turning once to grease the top. Cover with cling wrap or a clean tea towel and set aside to rise in a warm place for approx. 90 minutes, or until doubled in size.
Punch down the dough and knead for another minute to knock out any air bubbles. Shape the dough into a round and place onto a floured baking sheet. Rest for 5 minutes and then slash the top of the loaf 3 times diagonally and brush with cold water.
Preheat oven to 200°C fan-forced. Place an aluminum roasting pan in the bottom of the oven with 2cm of boiling water and bake near the centre of the oven for 40 minutes until the loaf is golden brown and sounds hollow when tapped. Cool on a wire rack.