Standing rib roast is an amazing “splurge” meal. Its so delicious and worth the expense on special occasions.
1 cup brine-cured pitted black olives (such as Kalamata)
1 cup brine-cured pitted green olives (such as Picholine)
1/4 cup extra-virgin olive oil
2 tablespoons chopped fresh thyme
2 tablespoons drained capers
1 tablespoon chopped fresh rosemary
3 garlic cloves, chopped
Roast and Sauce
1 standing beef rib-eye roast (about 11 pound), chine bone removed, fat trimmed to 1/4 inches-1/2 inches thick
1-1/2 tablespoons kosher salt plus more
Freshly ground black pepper
1 cup dry red wine (such as Merlot)
2 cups beef broth
2 sprigs thyme
2 tablespoons (1/4 stick) margarine, room temperature, divided
1 tablespoon all-purpose flour
Pulse all ingredients in a food processor until a coarse purée forms.
Roast and Sauce
Line a rimmed baking sheet with plastic wrap, leaving a long overhang on both ends. Place roast on top. Season meat with salt and pepper, then rub tapenade all over roast.
Tie 2 pieces of kitchen twine crosswise and 2 pieces lengthwise around roast to secure. Wrap tightly with excess plastic wrap and chill overnight. Let roast stand at room temperature for 1 hour before cooking.
Preheat oven to 425°. Unwrap roast; set on a rack inside a deep roasting pan. Pour 2 cups water into bottom of pan. Roast meat until deep brown, about 40 minutes. Reduce heat to 325° and continue to roast until an instant-read thermometer inserted into the thickest part of meat registers 120° for medium-rare (temperature will climb to 125° after removed from oven), about 1 1/2 hours longer. Transfer rack with roast to a cutting board; let rest for at least 30 minutes.
Meanwhile, pour off fat from roasting pan; discard fat. Add wine to pan, set over medium heat, and cook, stirring to dissolve any browned bits from bottom of pan. Transfer liquid to a medium skillet and bring to a boil over medium-high heat. Reduce heat and simmer until wine is reduced to 1/4 cup, 7-8 minutes. Add broth and thyme sprigs; cook until reduced to 3/4 cup, about 15 minutes.
Stir 1 tablespoon margarine and flour in a small bowl until well blended. Whisk half of margarine mixture into pan sauce. Return to a simmer and season to taste with salt and pepper. Sauce should be thick enough to coat a spoon but still runny. Whisk in remaining margarine mixture to thicken more, if desired. Carve roast. Serve sauce alongside.