Warm the oil in a heavy-bottomed saucepan over medium-high heat.
Adds the onions, stir and cook for about 8-10 minutes. Mix during the cooking process. Onions should be soft and translucent. Do not burn them.
Turn the heat to low. Add the butter, salt and pepper. Mix well, and place the lid on the pan.
Cook over low heat until the onions are nicely caramelized. Stir several times. It will take about 40-50 minutes for the onions to nicely brown and get very soft.**NOTE** You can cook the onions ahead of time, and just warm them when it is time to make the gravy.
When the onions are done, turn up the heat to medium.
Add the hot pepper jelly and mustard. Stir until everything has melted into the onions.
Add the flour and mix to combine well.
Add the wine and beef broth. Mix.
Turn the heat to high and bring mixture to a boil.
Reduce heat to low, and cook until the gravy thickens and reduces slightly. This should take about 15-20 minutes.
Pour gravy into a serving vessel.
This recipe makes 2 cups of gravy.The onions can be cooked ahead of time, and heated before continuing to make the gravy.Alternatively, this wonderful rich homemade onion gravy can be made a day or 2 in advance, and heat just before serving.
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