In a small saucepan, whisk together ketchup, Worcestershire sauce, red wine vinegar, dark brown sugar, 1 tsp chili powder, 1 tsp granulated onion, and 1/4 tsp freshly ground black pepper with 1/4 cup water.
Simmer over low heat for 10 minutes, stirring occasionally. Allow sugar to fully dissolve. Set aside.
Combine crushed peppercorns, 1 tsp chili powder, kosher salt, light brown sugar, granulated garlic, and 1/4 tsp granulated onion. and mix well. Rub onto both sides of steaks.
Lightly brush or spray both sides of steaks with olive oil. Place steaks on grill over high heat for 10 to 12 minutes or until meat reaches 145°F on an internal meat thermometer for medium doneness. Turn once.
Remove from the grill, and let sit for 5 minutes. Serve steaks with sauce on the side.