Stir together the water, oil, sugar and salt in a liquid measuring cup until the sugar dissolves. Whisk the flour and yeast in a large bowl, make a well in the center, and add the liquid mixture. With a wooden spoon or your hand, gradually stir the flour into the liquid to make a rough dough. Pull the dough together into a ball. Turn onto a work surface dusted with flour. Knead until the dough is smooth and elastic, about 10 minutes, using a little flour if necessary to keep it from sticking.
Shape the dough into a ball. Put it in a large, lightly oiled bowl and turn it to coat with the oil. Cover the bowl with plastic wrap and let rise until double in size, about 1 hour. Punch the dough down, knead briefly, shape it into a ball, cover, and let rise until soft and puffy, about 45 minutes more.