In a large saucepan, heat the olive oil over med-high heat. Add the onion to the pot and cook until softened, approximately 4-5 minutes. Stir in the garlic and jalapeño. Cook for 1-2 minutes longer or until the garlic is fragrant. Stir in the paprika, chili powder, cayenne pepper, onion powder, dry mustard, brown sugar and cider vinegar. Cook for 1 minute. Add the tomato sauce, ketchup, molasses and worcestershire sauce, stirring to combine.

Turn the heat to low and allow the sauce to simmer for 15 minutes, stirring occasionally. Season with salt and pepper to taste.

Cool the sauce to room temperature before transferring to an airtight container. Can be made up to 1 week in advance and stored in the refrigerator in an airtight container.