Jol: Defeat would have been unfair
The Gunners had a chance to snatch all three points with a last-minute penalty at Emirates Stadium, but big Australian Mark Schwarzer was the hero when he saved Mikel Arteta's effort.
Fulham went two goals down early on as Olivier Giroud and Lukas Podolski struck but the game turned on its head through an Alex Kacaniklic goal and a Dimitar Berbatov double.
Arsenal equalised through Giroud and although the home side blew a golden chance to win, Jol felt a draw was a fair result.
"I am proud of the way we played. We started so well and then went 2-0 down, which was harsh. I thought we were equally as good as Arsenal," he told reporters.
"It was very disappointing to be 2-0 down if you saw how my team played, especially in the second half. We broke them, we dominated them.
"They are a good team but it would have been very harsh if they scored the penalty."
Berbatov was the star of the show for the visitors, scoring twice and causing the Arsenal defence problems all day.
"He scored two goals again today. He caused them a problem. Bryan (Ruiz) has probably had his best game since he joined us," Jol said.
Arsenal manager Arsene Wenger, meanwhile, was disappointed to throw away a two-goal lead, but was pleased with the spirit shown by his players.
You have the possibility to win the game and we didn't take that," he said.
"We were 2-0 up and gave two goals away. After that we showed fantastic spirit, but I believe we have not shown enough urgency in our defending at 2-0 up.
"Then, in the second half, we have done great and are unlucky in missing a penalty.
"The spirit was absolutely fantastic on both sides, it was a good football game. But you want the edge going for you, that didn't happen today, but it was a good game."
Wenger also revealed that Theo Walcott is in doubt for England's friendly with Sweden in Stockholm after he injured a buttock muscle and had to be replaced late in the second half.
"Walcott has a glute muscle problem," Wenger said. "We nearly took him off at half-time, he nearly went down, but we left him on and on.
"In the end, it got worse and worse. At the moment, he is limping so I do not know whether he will be able to join the national team or not."