Starting with "or"
* orologio (watch, clock)
* orchestra (orchestra)
* ordinare (to order)
* orgoglio (pride)
* orizzonte (horizon)
* ormai (now, already)
* orso (bear)
* orto (garden)
* oratore (speaker)
* oro (gold)
Starting with "ol"
* oltre (beyond, over)
* olio (oil)
* ombra (shadow)
* oltremare (overseas)
* oltraggio (insult)
* oltraggioso (insulting)
These are just a few examples. There are many other Italian words that start with "or" or "ol".