Heat the olive oil in a heavy pot or Dutch oven over medium-high heat.

Add the beef cubes in batches, browning all sides without overcrowding. Set browned beef aside.

In the same pot, add the onion, carrots, and celery. Cook until vegetables begin to soften, about 5–7 minutes.

Stir in the garlic and tomato paste, cooking for another minute until fragrant.

Return the beef to the pot and pour in the red wine, scraping any browned bits from the bottom.

Add the beef broth, Worcestershire sauce, thyme, bay leaf, salt, and pepper. Bring the mixture to a simmer.

Reduce heat to low, cover, and let simmer gently for 1½–2 hours, or until the beef is tender and flavorful.

About 20 minutes before the stew finishes, add the mushrooms and continue cooking until they are softened and integrated.

Remove the bay leaf, taste, and adjust seasoning. Garnish with chopped parsley before serving.