In a small bowl, dissolve yeast in warm water. Add the oil, sugar, salt, egg and 1 cup flour. Beat until smooth. Stir in enough remaining flour to form a soft dough. , Turn onto a floured surface; knead until smooth and elastic, about 6-8 minutes. Place in a bowl coated with cooking spray, turning once to coat top. Cover and let rise in a warm place until doubled, about 1 hour., Punch dough down. Turn onto a lightly floured surface; divide into thirds. Shape each portion into an 8-in. rope. Place ropes on a baking sheet coated with cooking spray and braid; pinch ends to seal and tuck under. Cover and let rise until doubled, about 45 minutes., Beat egg and water; brush over braid. Sprinkle with sesame or poppy seeds if desired. Bake at 350° for 20-25 minutes or until golden brown. Remove to a wire rack to cool.