In a small bowl, mix together the salt, sugar, pepper, garlic powder, and cayenne.
Place the steaks on the wire rack inside a sheet pan.
Pat the rub into all surfaces of the steaks.
Cover with plastic wrap.
Place the pan in the refrigerator for up to 1-1/2 hours.
Remove the steaks from the refrigerator 30 to 40 minutes prior to grilling and allow them to come to room temperature on your countertop.
Set up your charcoal or gas grill for direct grilling.
When the coals are hot, give your grill grate a good cleaning with a wire brush.
Place a wad of paper towel in the tongs and soak it in the oil.
Rub the grill grate with the oil.
Using the tongs, place the steaks on the grill.
Grill for 4 minutes per side to an internal temperature of 140 to 145°F for medium rare and 5 minutes per side to an internal temperature of 155 to 160°F for medium well.
Remove the steaks to a clean cutting board and tent loosely with aluminum foil.
Allow the steaks to rest 10 minutes before slicing into.
Serve with your favorite side dishes.