Preheat the oven to 350°F, and grease a 9x5-inch loaf pan. Set aside.
In a large mixing bowl, whisk together the sugar, oil, eggs, key lime juice, milk, and vanilla.
1 cup granulated sugar, ½ cup canola oil, 2 large eggs, ½ cup key lime juice, ⅓ cup milk, 1 teaspoon pure vanilla extract
In a separate bowl, whisk together the flour, baking powder, baking soda, and salt. Add the dry ingredients to the wet ingredients, and mix just until combined and no streaks of flour remain.
2 cups all-purpose flour, 1 ½ teaspoons baking powder, ½ teaspoon baking soda, ½ teaspoon salt
Fold in the cranberries and walnuts. Bake for 50 to 60 minutes or until a knife inserted in the center comes out clean.
1 ½ cups fresh cranberries, ½ cup walnuts
Allow the bread to cool in the pan for 5 to 10 minutes before transferring to a wire rack to cool completely. While the bread cools, prepare the glaze.