In a medium saucepan, warm some olive oil over medium heat. Toss in the chipotle peppers, red pepper flakes, and butter, and let them sizzle for about 2 minutes. Then add the raspberries, tomato sauce, ketchup, apple cider vinegar, brown sugar, and honey. Stir everything together and let it come to a gentle simmer.

Stir in the Worcestershire sauce, smoked paprika, garlic powder, onion powder, liquid smoke, water, and a pinch of salt. Let the mixture simmer for 10–12 minutes, stirring occasionally, until the raspberries are soft and the sauce thickens a bit. Take it off the heat and let it cool slightly, then puree it until smooth with a blender or immersion blender.

Pour the blended sauce back into the pan and simmer for another 5 minutes so the flavors come together. Taste it and adjust the salt, sweetness, or heat if needed. Let it cool completely, then transfer to a jar or bottle for storage.