01 - Rinse the rice under cold water until the water runs clear. Drain thoroughly and set aside.
02 - In a medium saucepan, heat the olive oil over medium heat until shimmering.
03 - Add the chopped onion and sauté for 2 to 3 minutes until softened and translucent.
04 - Stir in the diced bell peppers and cook for another 3 to 4 minutes until just tender.
05 - Add the minced garlic and sauté for 30 seconds until fragrant, being careful not to burn.
06 - Stir in the rinsed rice, coating the grains evenly with the oil and vegetable mixture.
07 - Pour in the vegetable broth. Add salt, black pepper, dried thyme, and bay leaf. Stir to combine all ingredients.
08 - Bring to a gentle boil, then cover and reduce heat to low. Simmer for 15 to 18 minutes until liquid is absorbed and rice is tender.
09 - Remove from heat and let stand covered for 5 minutes. Discard the bay leaf. Fluff the rice with a fork before serving.
10 - Sprinkle with chopped fresh parsley or cilantro. Serve warm as a side dish or light main course.