In a grill with a cover arrange preheated coals around a drip pan. Test for medium heat above pan. Place steaks on grill rack directly over pan. Cover and grill steaks to desired doneness. (Allow 16 to 20 minutes for medium-rare doneness or 20 to 24 minutes for medium doneness.)
Meanwhile, for the sauce, stir together the olive oil, parsley, oregano, garlic, salt, and red pepper. Spoon the sauce on top of the steaks for the last 2 minutes of grilling. Makes 4 servings.
To grill directly:
Grill the steaks on an uncovered grill directly over medium coals to desired doneness, turning once. [Allow 8 to 12 minutes for medium-rare (145 degrees F) doneness or 12 to 15 minutes for medium (160 degrees F) doneness.]
Place steaks on the unheated rack of a broiler pan. Broil with surface of steak 3 to 4 inches from heat to desired doneness, turning once. [Allow 15 to 20 minutes for medium-rare (145 degrees F) to medium (160 degrees F) doneness.] Spoon sauce on steaks for the last 2 minutes of broiling.