Preheat oven to 425 degrees. Fill your muffin tray with muffin liners. Then spray your liners with nonstick cooking spray.
In a large bowl beat together with electric mixer- butter, vegetable oil, and sugars till smooth. Beat in eggs, one at a time. With the mixer on low speed, beat in the baking powder, baking soda, nutmeg, cinnamon, salt and vanilla until just combined. Stir the flour into the butter mixture alternately with the milk. Mix until just combined. Do not over mix!
Spoon batter into cups, filling the cups to the top, and then smoothing the tops. Divide batter equally among prepared muffin cups. Bake until muffin tops are a pale golden and springy to the touch, 15 to 17 minutes, rotating halfway through baking time.
Cool muffins in muffin tin for 5 minutes. (If you keep them in for longer... the bottoms will still cook) then transfer to wire rack and cool 10 minutes before glazing.
To make the glaze, In a medium bowl mix together the melted butter, confectioners? sugar, vanilla and water. Whisk until smooth.
When muffins have cooled slightly, dip the muffin crown into the glaze and allow the glaze to harden. Once hardened, dip a second time and allow to harden then serve.
Store in an air tight container