Combine first 8 ingredients in a large mixing bowl; add oil and eggs, beating well at medium speed of an electric mixer. Add buttermilk and vanilla, beating well. Stir in preserves and pecans. Pour batter into a greased and floured 10-inch tube pan. Bake at 350 degrees for 1 hour and 15 minutes or until a wooden pick inserted in center comes out clean. Cool in pan 10 minutes; remove from pan and place on serving plate. Pour Buttermilk Glaze over ----