Spiced Red Cabbage and Cranberries

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2 tablespoons unsalted butter

2 tablespoons extra-virgin olive oil

1 red onion, thinly sliced

1/2 cup ruby port

1 medium head red cabbage (about 2 pounds), cored and thinly sliced

1 cup cranberries (fresh or frozen)

1 Granny Smith apple, peeled and diced

3 tablespoons sugar

1 tablespoon red wine vinegar

2 pieces star anise

1 cinnamon stick

1 whole clove

Kosher salt and freshly ground pepper

2 tablespoons roughly chopped fresh parsley