Balsamic-Glazed Pearl Onions

Ingredients

2 1/2 pounds assorted pearl onions such as red, white, and/or yellow (about 8 cups)

2 tablespoons olive oil

1/2 cup Water

Preparation

In a saucepan of boiling water, blanch one third of the onions for 3 minutes and drain. Blanch remaining onions in batches in same manner. Cool onions and peel.

In a large heavy skillet, heat oil over moderately high heat until hot (but not smoking) and saute onions until lightly browned, about 5 minutes. Add vinegar and water and simmer, stirring occasionally, until onions are tender, about 15 minutes. Transfer onions with a slotted spoon to a platter, reserving liquid.

Reheat onions in reserved liquid, adding a little water if necessary, and transfer with slotted spoon to platter. Simmer reserved liquid until thickened and syrupy and reduced to about 1/2 cup.

Spoon sauce over onions and serve warm or at room temperature.