Caramelised onion jam

Heat oil in a saucepan over medium heat. Add onion and thyme. Cook, stirring occasionally, for 15 to 20 minutes or until golden. Add sugar. Cook, stirring, for 3 minutes. Add vinegar and 1/2 cup cold water. Bring to the boil. Reduce heat to low. Simmer, uncovered, for 5 minutes or until thick.