In a large mixing bowl, combine the all-purpose flour, salt, sugar, and fast-acting yeast.
Add the warm water to the dry ingredients and stir with a wooden spoon or spatula until a sticky dough forms.
Cover the bowl with a clean kitchen towel or plastic wrap and let the dough rest at room temperature for 30 minutes to allow the yeast to activate and the dough to rise slightly.
After the dough has rested, lightly flour a clean surface and turn the dough out onto it.
Using floured hands, fold the dough over itself a few times to shape it into a rough ball.
Place the dough seam-side down on a piece of parchment paper and cover it with a kitchen towel. Let it rest for 15 minutes.
While the dough rests, preheat your oven to 450°F (230°C) and place a Dutch oven with its lid inside the oven to heat for at least 30 minutes.
Carefully remove the hot Dutch oven from the oven. Using the parchment paper, lift the dough and place it into the Dutch oven.
Drizzle the olive oil around the dough inside the Dutch oven to prevent sticking.
Cover with the lid and bake for 30 minutes.
After 30 minutes, remove the lid and bake for an additional 10 minutes to brown the crust.
Remove the Dutch oven from the oven and carefully lift the bread out using the parchment paper.
Transfer the bread to a wire rack and let it cool completely before slicing.