Simple Sweet and Tangy Barbecue Sauce

Process onion and 1/4 cup water in workbowl of food processor fitted with steel blade until pureed and mixture resembles slush, about 30 seconds. Strain mixture through fine-mesh strainer into liquid measuring cup, pressing on solids with rubber spatula to obtain 1/2 cup juice. Discard solids in strainer.

Whisk onion juice, ketchup, vinegar, Worcestershire, mustard, molasses, hot pepper sauce, black pepper, and liquid smoke (if using) in medium bowl.

Heat oil in large nonreactive saucepan over medium heat until shimmering but not smoking. Add garlic, chili powder, and cayenne pepper; cook until fragrant, about 30 seconds. Whisk in ketchup mixture and bring to boil; reduce heat to medium-low and simmer gently, uncovered, until flavors meld and sauce is thickened, about 25 minutes. Cool sauce to room temperature before using. (Can be covered and refrigerated for up to 7 days.)