Generously season the steaks with salt and pepper, then let steaks rest uncovered for 15 minutes at room temperature.

Melt ½ tablespoon butter and the oil in a large skillet over medium-high heat until almost smoking. Add steaks and cook until done to taste, 3-4 minutes per side for rare and a little longer for medium-rare or medium. (Bone-in steaks take a few minutes longer to cook through than boneless.) Transfer steaks to a plate to rest while you prepare the sauce.

To the now empty skillet, add wine, shallots, thyme and bay leaf. Bring to a boil over medium heat and cook until the mixture reduces by half, 2-3 minutes.

Add the broth and bring to a boil again. Continue cooking until this mixture reduces by half, 10-15 minutes.

If desired, strain the mixture through a fine mesh strainer and discard the solids. Return the strained sauce to the saucepan and heat over medium-low heat.

In a small bowl, combine the melted butter and flour until smooth. Add this mixture to the saucepan and whisk until thickened. Enjoy your steaks with the red wine sauce on top.