In a large pot, melt the butter with olive oil over medium heat.
Add the sliced onions and cook slowly, stirring often, for 30–40 minutes until deeply golden and caramelized. Add sugar if needed.
Stir in the garlic and cook for 1 minute.
Deglaze the pot with white wine and let it reduce for 2–3 minutes.
Add the broth, bay leaf, thyme, salt, and pepper. Simmer for 20 minutes.
Remove the bay leaf. Taste and adjust seasoning.
Ladle the soup into oven-safe bowls. Place toasted baguette slices on top and cover with grated cheese.
Broil for 3–5 minutes until the cheese is melted, bubbly, and golden brown.
Serve hot and enjoy this rich, comforting French classic! 
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