Instant Pot French Onion Soup: Bistro Flavor, Zero Fuss

Ingredients

• 2 tablespoons unsalted butter (30g)
• 2 tablespoons olive oil (30ml)
• 3 large yellow onions, thinly sliced (about 3 lbs / 1.4 kg)
• 1 teaspoon granulated sugar
• 1/2 teaspoon kosher salt
• 1/4 teaspoon black pepper
• 4 cloves garlic, minced
• 1/4 cup dry sherry (60 ml)
• 8 cups beef broth (2 liters) - low sodium recommended
• 2 bay leaves
• 1 teaspoon dried thyme
• 1 baguette, sliced into 1-inch thick rounds
• 2 tablespoons olive oil
• 4 ounces Gruyère cheese, grated (about 1 cup) (113g)