Heat olive oil in a medium-large saucepan over medium-high heat. Once hot add cranberries and sauté, for 2-3 minutes, or until the cranberries begin to burst. Deglaze the pan with white wine and simmer for 2-3 minutes, or until the wine reduces by half. Stir in mustard seeds, cinnamon, ginger, clove, sugar, balsamic and water, cover and continue to simmer (stirring occasionally) until cranberries have softened and the sauce has thickened, 5-8 minutes. Remove from the heat and set aside to cool. Serve warm or refrigerate until ready to serve.
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