In a large Dutch oven, heat olive oil or butter over medium-high heat. Sear the cubed chuck beef in batches for 3-4 minutes until browned on all sides.

If needed, add another splash of oil, reduce the heat to medium, and add the diced onion, minced garlic, and sliced celery. Sauté for 5-7 minutes until translucent.

Stir in tomato paste and cook for 1-2 minutes. Return the seared beef to the pot and mix well.

Pour in beef broth, add Worcestershire sauce, bay leaf, salt, and pepper. Bring to a boil, then reduce heat and simmer for 1.5 to 2 hours.

Add cubed potatoes and sliced carrots. Simmer uncovered for 30-40 minutes or until tender.

Mix flour with a cup of hot broth to create a slurry and stir it into the pot. Cook for another 10-15 minutes to thicken.

In the last 5 minutes, add frozen peas to the stew and heat through. Remove the bay leaf before serving.