Combine first 5 ingredients in a large saucepan. Bring to a boil; cook until reduced to 1 cup (about 18 minutes). Stir in preserves and 1/4 teaspoon salt; cook 1 minute. Strain wine mixture through a sieve over a bowl. Discard solids.
Sprinkle duck with 1/4 teaspoon salt and pepper. Heat oil in a large nonstick skillet over medium heat. Add duck; cook 5 minutes on each side or until desired degree of doneness. Cut duck diagonally across the grain into thin slices; serve with sauce.