Start by washing your oranges thoroughly, especially if you're using the peels. Slice the oranges in half and juice them directly into a medium saucepan.
Once you've juiced the oranges, peel the rinds and add them to the saucepan as well, taking care to remove any white pith, which can create a bitter flavor.
Add the sugar and water to the saucepan. Place over medium heat and stir occasionally until the sugar has completely dissolved and the mixture reaches a gentle simmer.
Simmer the mixture for about 5 minutes. This allows the orange peel to release its oils into the syrup and gives it a deeper, more aromatic citrus flavor.
Remove the pan from heat and let the syrup cool to room temperature. Strain out the solids using a fine mesh strainer, and transfer the liquid to a clean, airtight container.
Store the syrup in the refrigerator for up to three weeks.