Heat Vegetable Oil In A Deep-Fryer Or Large Saucepan To 375 Degrees F (190 Degrees C). Mix The Peach Preserves, Horseradish, And Mustard Together In A Small Bowl Until Well Blended; Set Aside. Whisk Together The Flour, Baking Powder, Salt, Garlic Powder, Paprika, Cayenne Pepper, Black Pepper, Basil, Eggs, And Beer In A Large Bowl Until Smooth. Add The Shrimp In Batches To The Batter, Turning To Coat. Remove With A Slotted Spoon, Shaking Off Excess Batter. Fry The Shrimp In The Preheated Oil Until Golden, About 2 Minutes. Transfer The Fried Shrimp To A Paper Towel-Lined Plate To Drain. Serve With The Peach Sauce.