Throw the habanero peppers, ketchup, apple cider vinegar, brown sugar (or honey), and molasses into a blender. Blend it until the mixture is completely smooth.

Heat a little olive oil or butter in a saucepan over medium heat. Pour in the blended mix, then add Worcestershire sauce, smoked paprika, garlic powder, onion powder, red pepper flakes, cayenne, and dry mustard. Stir everything together well.

Keep it on a gentle simmer for about 10–15 minutes, giving it a stir every so often, until it thickens slightly. Taste and add salt and pepper as needed. Let it cool down before you store it or serve it.