Measure oil and water into bread pan. Add flour, olives, salt, onion powder, oregano and basil. Make well in
dry ingredients and measure in yeast. Select basic bread cycle for 1 to 1 1/2 lb. loaf with baking time of approximately 40 minutes.
Or, after dough has risen once, take it out of pan and divide in half. Flatten each half into circle, gather edges toward center, knead each piece of dough into ball. Sprinkle baking sheet with 1 tablespoon cornmeal and set dough on this. Cover with cloth, put in warm place, and let dough rise until doubled in size. This will take about 1 hour. Adjust oven rack to lowest position. Preheat oven to 400°. Using sharp razor or knife, make an X in top of each ball. Bake until loaves are golden brown, 25 to 30 minutes. Cool to room temperature before slicing.
This even-textured bread bakes to a crunchy crust with a soft center.