Liverpool required a solid win to keep their hopes of a Champions League place alive.
After their dismal back-to-back Bank Holiday defeats against Arsenal and Charlton, the pressure was on.
Each point in their next five games are vital if they are to secure the coveted fourth place spot.
But Fulham had proved to be one of the major surprises of the 2003-04 season.
Also bruised after their last defeat against Blackburn, Chris Coleman needed to tighten his side's slack defence.
After an impeccably observed minute's silence in memory of the 15th anniversary of the Hillsborough disaster the game kicked off.
Gerard Houllier made some tactical changes to his starting line-up leaving Emile Heskey on the bench in favour of Bruno Cheyrou.
But it was Fulham's 18-year-old newcomer Collins John who showed the most promise on the pitch.
After making a vital clearance for the Cottagers from an advance by Dietmar Hamann, the striker was soon causing trouble at the opposite end of the pitch.
In the tenth minute the Liberian player came from nowhere to pick up a perfectly-placed cross by Steed Malbranque.
Hamann and Stephane Henchoz both rushed in to make a hurried clearance forcing the ball behind for a corner.
That was all the warning Liverpool needed and within a minute they were back with a reply.
Midfielder Harry Kewell battled his way through to find Cheyrou in the penalty box.
The Frenchman picked out Vladimir Smicer but he could only manage a shot that flew straight into the hands of Edwin Van der Sar.
Smicer followed up his half-hearted attempt two minutes later with a wild shot which deflected high over the crossbar.
Michael Owen then skipped round the keeper but the striker's attempt on goal was blocked by Ian Pearce.
Luis Boa Morte used his impressive pace to move into space but his cross to John stretched the teenage striker too far and the ball was cleared by Sami Hyypia.
By the 29th minute it was the turn of the Liverpool defence to falter.
A strike by Moritz Volz in the Liverpool box deflected off Henchoz and dangerously bounced off the crossbar and close to goal.
Moments later a second clearance by Hyypia gave fans a nail-biting moment as it rebounded off the top of the netting.
The only real first-half chance for Fulham came in the dying minutes as a mistake by Steven Gerrard allowed Steed Malbranque to launch an onslaught on the Reds defence.
After pushing past the Liverpool captain, he placed the ball at the feet of Boa Morte who paved the way for John.
Only a swift challenge by Hyypia managed to keep the scoreline goalless at half time.
After their first-half scare, the unchanged Liverpool side seemed to have regained some vigour.
A yellow-card challenge by Carlos Bocanegra on Jamie Carragher gave the Reds a free-kick on the edge of the box in the 48th minute.
Gerrard's curling shot was only partially cleared and appeared to strike Bobby Petta on the arm.
The referee pointed to the spot despite pleas from the Fulham players.
But for the sixth time this season the penalty taken by Gerrard failed to hit the target thanks to a fantastic save by Van der Sar.
Head in hands, Gerrard faced the reality that he may have lost his team's only chance of grasping the vital three points.
As if out of frustration the skipper rifled a long-range shot goalwards just two minutes later.
But his 30-yard strike didn't even come close to testing the Cottagers keeper.
A mis-kicked shot by Carragher then found Kewell in space on the left wing but Van der Sar's instincts came to the fore yet again as he blocked the powerful strike.
With 12 minutes to go, Houllier made some desperate changes with Kewell and Smicer making way for Emile Heskey and El Hadji Diouf and Liverpool's game immediately picked up.
Milan Baros made a valiant run down the right flank and after shrugging off Petta his cross to Owen was blocked by Volz.
Two minutes later Gerrard made a near identical charge but his cross to Heskey once again failed to reach its target.
As the clock ticked by the possibility of Champions League football slipped away with it.
Once Fulham's star man John had left the pitch any sparkle the away team had left with him.
Their own battle for European football also took a huge knock as they followed up their Blackburn defeat with an unimpressive display.
The obviously disgruntled home fans showed their anger as the full-time whistle was drowned out by a chorus of boos for Houllier and his team.
Speaking after the game, Houllier urged fans not to blame their captain.
He said: "Obviously my boys are disappointed with the result, but again we had enough chances to sneak a goal.
"I thought we had a better game than against Charlton. I was pleased with the defence. It was strong and solid.
"Michael had a good chance at the end of the first half and that probably showed we were a bit nervous after the Charlton game.
"As for the penalty it wasn't a missed penalty - it was saved.
"Penalties have been a bit of a struggle for us this season, but I don't blame a player for missing a penalty - it happens.
"I know the headlines are not going to be nice to us but we will keep battling on.
"The players' effort was fantastic, it's just a shame they didn't score."
MAN OF THE MATCH: Jamie Carragher - In a game where it was hard to find any outstanding player his valiant attempts at least ensured the Reds kept a clean sheet.