In a large skillet, heat the olive oil over medium heat. Add the diced onion and sauté for about 5 minutes, or until softened and translucent.
Stir in the diced red and yellow bell peppers and cook for an additional 5 minutes, until they begin to soften.
Add the minced garlic, cumin, smoked paprika, and red pepper flakes to the skillet. Cook for 1-2 minutes, stirring frequently, until fragrant.
Pour in the diced tomatoes with their juices, and season with salt and black pepper. Bring the mixture to a simmer and let it cook for about 10 minutes, allowing the flavors to meld.
Create four small wells in the tomato-pepper sauce and crack an egg into each well. Cover the skillet and cook for 5-7 minutes, or until the eggs are set to your liking.
Remove from heat and garnish with chopped parsley and crumbled feta cheese, if desired. Serve immediately with crusty bread or pita.