Preheat oven on broiler setting. Make foil 'snake' out of aluminum foil to use to keep oven door slightly ajar so that broiler won't turn off if it gets too hot. Brush steak with oil and salt and pepper, to taste. Place a piece of foil on the bottom rack as a drip pan. Place another rack in the position above this and put the steak directly on this rack. Cook steak in this position for 5 minutes. Flip steak and cook for another 5 minutes. Move rack with steak to top position in oven, moving rack with foil and drippings just underneath, and cook for 3 minutes. Flip 1 last time and cook for another 3 minutes. Transfer steak to wire rack and rest for 3 to 5 minutes. The above times are for medium doneness. Adjust cooking times up or down as desired.
Recipe courtesy of Alton Brown