Mix water with yeast, let it sit for a minute or so. Add sugar and salt. In small portions add flour. If you are using mixer, use dough hook, mix on low speed until the dough comes together in a mass. Mix on medium speed for 2 minutes. Dough should clear the sides but stick to the bottom. (If it is too sticky, add 1 tablespoon of flour at a time. If too dry, add 1 tablespoon of water to dough to adjust.) Let dough rest for 5 minutes.
Turn the mixer on again and mix for 3 minutes. When cycle is completed, turn dough onto a lightly floured surface. Let it rise for 1½ hour.
Divide in half. Roll each portion into a 10-in. x 8-in. rectangle. Roll up jelly-roll style, starting with a long side; pinch seams to seal.
Grease pan with oil. Cover and let rise in a warm place until doubled, about 30 minutes.
Whisk egg and water; brush over loaves. With a sharp knife, make four shallow slashes across the top of each loaf. Bake at 375 degrees F for 20-25 minutes or until golden brown.