In a large mixing bowl, add the water, olive oil, salt and sugar.
Add the flour to separate bowl and then the yeast. Stir/whisk to combine. Add to the water mixture.
Using a wooden spoon or a Danish dough whisk, stir until most of the flour is absorbed into the dough. Turn the dough over with your hands in the bowl a few times to work in the rest of the flour. The dough will look very shaggy.
Turn the dough out onto a lightly floured work surface. Set aside a small bowl of flour (‘bench flour’) to use during kneading as needed.
Knead the dough by gently flattening the dough into a rough 8x11-inch rectangle. Grab the top half and fold over, folding the dough in half. Use your palm to push dough forward, "sealing" the dough at the fold seam. Turn the dough 90 degrees and fold, seal and turn again. Knead for 10-12 minutes, or until the dough is shiny and smooth and stays put when shaped into a taut ball. Another way to test if the dough is kneaded enough is to poke it with your index finger, and if the dough springs back it is ready. (See notes for stand mixer directions.)
Place the dough into an oiled bowl and cover with plastic wrap. Allow to double in size in a warm place, about an hour.
Prepare pan: Place round parchment paper in an 8-inch cake tin or springform pan. Generously spray sides of pan and parchment paper with non-stick spray. (Alternatively, line a baking sheet with parchment paper.)
Turn dough out onto a clean work surface. Divide dough into 8 equal pieces. Roll each piece of dough into an 18-inch rope (any length 16 to 20-inches will work fine). Spray each individual rope with non-stick cooking spray.
Place 4 ropes next to each other horizontally. Pull the top 2 ropes back a little more than half way. Place 2 more strips vertically over non-exposed strips. Replace the 2 strips that were pulled back, placing them over the top of the just-added vertical strips.
Pull back the 2 horizontal strips that are covered. Place the remaining 2 strips vertically next to the previous vertical strips; replace the 2 strips that were pulled back, placing them over the top of the just-added vertical strips.
Starting with the top 2 left exposed vertical ends, fold them over to the middle and bring the right 2 vertical ends over and replace the 2 left ends over the top. Basically you are tucking 2 ends under the adjacent 2 ends. Working counterclockwise, repeat with the other 3 sets of exposed ends.
Starting with the ends that were just tucked under, place them over the top of the strands to the left. Repeat, working counterclockwise around the woven dough.
Carefully tuck all ends under loaf and gently form into a round loaf. Place in prepared pan (or bake free-form on baking sheet).
Cover and let rise until indentation remains after lightly touching with fingertip, about 30 to 45 minutes.
Preheat oven to 350°F.
Bake for 40-45 minutes or until the bread is golden brown and the internal temperature reads 200°F.
Brush melted butter over warm loaf after baking. Let cool on wire rack.