The Jets grabbed the lead through Matt Thompson in the 57th minute only to see all three points whisked away when Reds defender Sasa Ognenovksi scored late in injury time with a well-timed header.
Adelaide coach Aurelio Vidmar breathed a huge sigh of relief after the match.
“I thought that the number of chances that we had, we should have had the three points but the front third just lacked a bit of cohesion,” Vidmar said.
“The longer the game goes on and you don’t take your chances, the harder it gets.”
The point ensures the Reds remain in second place on the league table whilst the Jets season continues to fall away for them as they find themselves on equal points with the bottom-placed Perth Glory.