Combine all ingredients in a small saucepan and cook over low heat, stirring constantly, for about 10 minutes until sauce has thickened.
Allow sauce to cool before using or serve warm.
Make ahead tip
Refrigerate – Cool for 1 hour then transfer to an airtight container and refrigerate for up to 2 weeks. Bring to room temperature before serving.
Freeze – Cool for 2 hours then transfer to a freezer-safe container and freeze for up to 3 months. Thaw in the refrigerator overnight then bring to room temperature before serving.