Spiced Apple Old Fashioned

It seems like whenever I get a jug of apple cider, we drink half of it, then the rest languishes in the fridge until it gets fizzy and I have to throw it away. Before it gets that far, why not use your leftovers to make a batch of spiced apple syrup? Add it to club soda with a little lemon juice for a refreshing spiced apple soda mocktail, or use it in my rum-based twist on the Old Fashioned cocktail.

Spiced Apple Old Fashioned
2 oz aged rum
1/2 oz spiced cider syrup (see below)
1/4 oz simple syrup
2 dash Angostura bitters
Garnish: orange peel

Build in ice filled old-fashioned glass. Stir well. Garnish.

Spiced Cider Syrup
4 cups fresh apple cider
2 cinnamon sticks
4 whole allspice berries
1 teaspoon whole cloves
2 teaspoons whole black peppercorns

Combine ingredients in saucepan. Bring to a boil then reduce heat to a vigorous simmer. Cook uncovered, until reduced by 3/4, about 2 hours. Store refrigerated.