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Red Onion Sauce for New York Style Hot Dogs

2 tablespoons vegetable oil
2 medium onions-chopped
1/2 teaspoon ground cinnamon
1/2 teaspoon chili powder
1/4 cup tomato ketchup
1/2 cup water
1/2 teaspoon cayenne
1/2 teaspoon kosher salt
1/4 teaspoon freshly ground black pepper


Heat oil in a medium saucepan over medium heat. Add onions and cook until soft. Stir in the cinnamon and chili powder and cook for 1 minute. Add the ketchup, water, hot sauce and salt and black pepper and bring to a simmer. Cook mixture for 10-15 minutes or until thickened. Transfer to a bowl and let cool to room temperature before serving. Can be refrigerated for up to 2 days, but bring to room temperature before serving.