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In a large pot, melt the butter with olive oil over medium heat.
Add the sliced onions and cook for about 20-30 minutes, stirring frequently, until the onions are golden brown and caramelized.
Sprinkle the sugar over the onions and cook for another 5 minutes, stirring, to help enhance the caramelization process.
Add the minced garlic and cook for 1-2 minutes until fragrant.
Stir in the flour and cook for about 1 minute, making sure it coats the onions and forms a paste.
Pour in the wine (if using) and scrape up any browned bits from the bottom of the pot.
Add the beef broth, bay leaf, and thyme. Season with salt and pepper to taste.
Bring the soup to a simmer and cook for about 20-30 minutes, allowing the flavors to meld together.
Meanwhile, preheat your oven’s broiler.
Place the baguette slices on a baking sheet and toast them under the broiler until golden brown on both sides.
Ladle the soup into oven-safe bowls. Place a slice of toasted baguette on top of each bowl and sprinkle generously with grated cheese.
Place the bowls under the broiler for 3-5 minutes, or until the cheese is melted and bubbly.
Serve hot and enjoy!
Serving and storage tips:
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