Preheat the oven to 450°F (230°C).
Mix salt, pepper, garlic powder, onion powder, thyme, and rosemary. Rub this seasoning onto the prime rib.
Drizzle olive oil over the prime rib and coat it evenly.
Roast the prime rib at 450°F (230°C) for 15 minutes.
Reduce the oven temperature to 325°F (160°C). For medium-rare, cook until internal temperature is 135°F (57°C); for medium, cook to 145°F (63°C).
Rest the roast for at least 20 minutes on a serving platter.
In the roasting pan, heat and brown a tablespoon of flour. Add beef broth and red wine, stirring until thickened.
Carve the prime rib and serve with homemade gravy. These shorter instructions maintain the same essential information while being more concise.