Heat olive oil in a large pot over medium-high heat. Brown the chuck roast on all sides, about 4-5 minutes per side. This step adds flavor to the broth.

Add the onion, carrots, parsnip, celery, garlic, peppercorns, bay leaves, salt, and pepper to the pot with the browned beef.

Pour in the water, making sure the beef and vegetables are fully submerged.

Bring the broth to a gentle simmer over medium-low heat. Skim off any foam or impurities that rise to the surface.

Cover the pot and let the broth simmer for at least 2-4 hours, or even longer if possible. The longer you simmer it, the more flavorful it will be.

Once the broth is done cooking, remove the beef and vegetables from the pot and discard them. Strain the broth through a fine mesh sieve to remove any remaining solids.

Let the broth cool completely, then transfer it to an airtight container. Store it in the refrigerator for up to 5 days or freeze it for longer storage.