Using a vegetable peeler, remove 3 (2-inch) long strips of peel from the orange. Using a paring knife, remove any excess pith from the peels and discard, and add the peels to a small saucepan.

Juice the orange into the saucepan.

Add the oil, bay leaf, garlic, rosemary and red pepper flakes.

Place the saucepan over medium heat and cook until the edges begin to simmer.

Remove from the heat and let steep for 2 minutes.

Meanwhile, place the olives in a sealable, air-tight container.

Pour the warm oil mixture over the olives.

Let sit, at room temperature, for at least 2 hours, flipping the container to toss the contents every 30 minutes.

To serve, transfer the olives and marinade into a serving bowl and sprinkle with flakey sea salt.