Heat 1 tablespoon of oil in a 2-quart saucepan over medium-high heat. Season the beef with salt and pepper, then brown on all sides, about 6 minutes. Transfer the beef to a plate and set aside.
If the pot is dry, add ½ tablespoon of oil. Stir in the chopped onions and celery and cook for about 2 minutes, until the onions are soft and translucent. Add the garlic and cook for 30 seconds, stirring constantly.
Stir in the tomato paste and Worcestershire sauce and cook for 30 seconds.
Sprinkle flour over the vegetables and stir for 1 minute, until no dry flour remains and the vegetables are well coated.
Pour in the wine and add the dried thyme. Stir and let the wine reduce slightly until thickened.
Add the broth and return the beef to the pot. Bring to a boil, then reduce the heat to low. Cover and simmer for 25 minutes, stirring occasionally to maintain a gentle simmer.
Stir in the potatoes, carrots, and peas. Cover and continue cooking for another 25 minutes, or until the beef is tender and the vegetables are fully cooked. If needed, continue simmering in 10-minute increments until done.
Notes
Use Chicken Broth for a Cleaner Flavor: I prefer chicken broth instead of beef broth because some store-bought beef broths can taste metallic. Chicken broth keeps the stew rich without overpowering the other ingredients.
Wine Substitutes: If you don’t have red wine, replace it with extra broth, a splash of red or white wine vinegar, or even water. These swaps maintain great flavor without alcohol.
Choose Affordable Cuts of Beef: Chuck roast delivers tender, flavorful meat, but bottom round, top round, eye round, or shoulder roast are excellent budget-friendly options.
Always Sear the Meat: Browning the beef before simmering deepens the flavor and helps develop a rich, hearty stew base.