Steak tastes best when it has a crust of charred flavors on the outside
and a wide swath of juicy, evenly cooked meat inside. How do you get
that combo? Roast the steaks over indirect low heat for about 20 minutes
and then finish with about 2 minutes of charring on each side.
Prepare the grill for indirect cooking over low heat (about 300°F). To help prevent flare-ups, trim the fat along the edge of each steak to no more than ¼ inch. Rub the oil into both sides of the steaks and then season evenly with the salt and pepper. Set aside at room temperature while the grill heats.
Brush the cooking grates clean. Grill the steaks over indirect low heat, with the lid closed, until an instant-read thermometer inserted into the center of a steak registers 100°F, about 20 minutes. Transfer the steaks to a platter.
Raise the heat of the grill for direct cooking over high heat (450° to 550°F). Return the steaks to the grill and cook over direct high heat, with the lid closed, until the thermometer inserted into the center of a steak registers 125° to 130°F for medium rare, 4 to 5 minutes, turning once.
Remove the steaks from the grill and let rest for 3 to 5 minutes; during that time, the internal temperature will rise a few degrees. Serve whole or cut across the grain into ½-inch-thick slices. Drizzle any accumulated juices over the top, then, if desired, drizzle with a little oil.