Drizzle olive oil in large pot over medium-high heat. Add onions and bell pepper and cook until tender.
Add garlic and cook about 5 more minutes.
Pour canned tomatoes into a high-powered blender. Add onion, pepper, and garlic mixture.
Pulse until smooth, then pour back into large pot. Add broth.
Simmer soup about 5 minutes, then add basil and parsley.