In a large bowl or the bowl of a stand mixer fitted with a dough hook, combine the water and sugar and stir to dissolve sugar. Sprinkle yeast overtop and set aside for 10 minutes in a warm spot in the kitchen. Yeast will be foamy.
Add one cup of flour to the bowl and stir with a spoon or on low with the dough hook until incorporated. Then add salt and remaining flour. Stir with a spoon or the dough hook until combined, about one minute.
If kneading by hand, turn the dough out onto a clean work surface (no need to flour it), and knead until it loses most of its stickiness and becomes quite elastic, about ten minutes. (To knead, hold the dough in place with one hand and stretch it out in front of you with the heel of your other hand as shown in the photos above, then roll it back up on itself and repeat.) If using a stand mixer, turn machine to speed 2 and let the dough hook knead for about eight minutes.
Wash and dry the bowl, then pour about two teaspoons of the oil into it.
Place the dough back into the bowl and roll it to coat lightly with the oil on all sides.
Place a clean kitchen towel over the top of the bowl and set aside in a warm spot in the kitchen to rise. Dough is ready when it has approximately doubled in volume, which will take an hour or more depending on the temperature of your kitchen.
Line two baking sheets with parchment or silicone baking mats.
Turn the dough out onto a clean work surface and divide into sixteen equal pieces.
One at a time, roll out each piece with your hands into an approximately 18-inch "snake," and then twist into a pretzel shape. See the video and step-by-step photos in the post for more details on shaping. See note 10 below if you'd like to make pretzel bites instead.
Set each pretzel on one of the baking sheets, leaving two inches of space on all sides. Repeat with remaining dough. Cover baking sheets with kitchen towels and set aside for 15 minutes while the pretzels complete their final rise.
Meanwhile, preheat the oven to 450°F with one rack ⅓ of the way up from the oven floor and another ⅓ of the way down from the top. If you have a convection oven, it's great to use here -- just set it to 425° instead.
Fill a large, heavy pot with four inches of water, and bring to a boil over high heat. Pour in baking soda. Lower heat to maintain a slow simmer.
In batches of four to six depending on the size of your pot, gently place pretzels into the simmering water and poach for about 30 seconds, until they puff up and float. Transfer to prepared baking sheets.
Gently blot any excess off each pretzel with a paper towel and place back on the baking sheets. Brush each pretzel with a little oil and then sprinkle with a bit of coarse salt.
Place one baking sheet on the lower rack and one on the upper rack of the oven.
Bake pretzels for eight minutes, then reverse the positions of the baking sheets and bake eight to 12 minutes more, until pretzels are golden brown and cooked through.
Serve warm or at room temperature, preferably the same day they're made.