Place all ingredients in a small saucepan and bring to a simmer over medium heat. If you get some of the pulp from the oranges while squeezing, it will help thicken the sauce a little. Reduce the heat to low and simmer uncovered for 25-30 minutes or until the cranberries start to break down and fall apart.
Remove from heat and set aside to cool. Store in the refrigerator for up to 2 weeks in an airtight container or freeze for up to 6 months.