Andy Carroll's 87th-minute header took Newcastle back to the top of the Championship and broke Swansea hearts with a deserved victory snatched away from them at the Liberty Stadium.
It was the impressive David Cotterill who looked to have proved the difference for the hosts with an exquisite effort from the edge of the area shortly after the restart.
It was nothing less than the Swans deserved having enjoyed more possession over the course of the game, although without really turning their dominance into goalscoring opportunities.
But Carroll, who was somewhat fortunate to still be on the pitch following a nasty foul on Garry Monk just minutes earlier, headed home Leon Best's cross from close range in the closing minutes.
It was the first goal City have conceded in over six hours but, nevertheless, the point extended their unbeaten run to 12 league games and saw them leapfrog rivals Cardiff into fourth place.
Chris Hughton will be relieved to have snatched a point having already seen his Newcastle side's club-record 15-match unbeaten league run abruptly ended by a 3-0 defeat at Derby in midweek. Newcastle now lead West Brom at the summit by one point.
The hosts started on the front foot with a succession of corners but after just seven minutes left-back Federico Bessone was forced off with what appeared to be a calf injury.
Swansea dominated possession but had few chances to show for it, with Andrea Orlandi's 21st-minute free-kick drifting wide.
City's lack of creativity up front almost came back to haunt them soon after as Kevin Nolan - with 10 league goals to his name this season - headed the best chance of the opening half-hour wide.
Swansea were still the dominant force as the interval approached, forcing a couple of half-chances, although the Magpies were showing glimpses of their threat going forward.
The Swans started the second half in the same fashion as they started the first, and Nathan Dyer whistled an effort inches wide from around 25 yards as Orlandi and Shefki Kuqi also went close.
Darren Pratley was next to pose a threat before Cotterill finally broke the deadlock with his second goal in the space of a week.
The midfielder received the ball on the edge of the area, feigned to shoot before picking his spot and curling an unstoppable effort into the top corner past a helpless Steve Harper.
Swansea continued to look strong after grabbing the initiative and Ashley Williams wasted a great chance to register a second when he headed well off-target from four yards out.
Newcastle were struggling to create any clear-cut openings for an equaliser, but Carroll was to emerge as their saviour with three minutes of normal time to go.
He showed his striker's instinct to head a late leveller from Best's cross to deny Swansea a first win over their north-east opponents in over 30 years.
MAGPIES v SWANS - THE HISTORY: 2011/2012 Sat 17 Dec Newcastle Utd. 0 - 0 Swansea City Premier League 2009/2010 Sat 13 Feb Swansea City 1 - 1 Newcastle Utd. Championship Sat 28 Nov Newcastle Utd. 3 - 0 Swansea City Championship 1994/1995 Sat 28 Jan Newcastle Utd. 3 - 0 Swansea City F.A. Cup 1983/1984 Sat 31 Mar Newcastle Utd. 2 - 0 Swansea City Second Division Sun 16 Oct Swansea City 1 - 2 Newcastle Utd. Second Division 1980/1981 Sat 13 Dec Swansea City 4 - 0 Newcastle Utd. Second Division Sat 18 Oct Newcastle Utd. 1 - 2 Swansea City Second Division 1979/1980 Sat 19 Apr Newcastle Utd. 1 - 3 Swansea City Second Division Sat 24 Nov Swansea City 2 - 3 Newcastle Utd. Second Division 1964/1965 Sat 27 Mar Newcastle Utd. 3 - 1 Swansea Tn. Second Division Sat 09 Jan Swansea Tn. 1 - 0 Newcastle Utd. F.A. Cup Sat 14 Nov Swansea Tn. 3 - 1 Newcastle Utd. Second Division 1963/1964 Tue 17 Mar Swansea Tn. 0 - 1 Newcastle Utd. Second Division Sat 05 Oct Newcastle Utd. 4 - 1 Swansea Tn. Second Division 1962/1963 Sat 16 Mar Swansea Tn. 1 - 0 Newcastle Utd. Second Division Sat 27 Oct Newcastle Utd. 6 - 0 Swansea Tn. Second Division 1961/1962 Fri 02 Feb Swansea Tn. 3 - 2 Newcastle Utd. Second Division Sat 16 Sep Newcastle Utd. 2 - 2 Swansea Tn. Second Division 1952/1953 Sat 10 Jan Newcastle Utd. 3 - 0 Swansea Tn. F.A. Cup 1951/1952 Sat 23 Feb Swansea Tn. 0 - 1 Newcastle Utd. F.A. Cup 1946/1947 Sat 04 Jan Swansea Tn. 1 - 2 Newcastle Utd. Second Division Sat 07 Sep Newcastle Utd. 1 - 1 Swansea Tn. Second Division 1938/1939 Sat 22 Apr Newcastle Utd. 1 - 2 Swansea Tn. Second Division Sat 17 Dec Swansea Tn. 0 - 1 Newcastle Utd. Second Division 1937/1938 Sat 30 Apr Swansea Tn. 2 - 0 Newcastle Utd. Second Division Sat 18 Dec Newcastle Utd. 1 - 0 Swansea Tn. Second Division 1936/1937 Sat 17 Apr Swansea Tn. 1 - 2 Newcastle Utd. Second Division Sat 12 Dec Newcastle Utd. 5 - 1 Swansea Tn. Second Division 1935/1936 Sat 11 Apr Newcastle Utd. 2 - 0 Swansea Tn. Second Division Sat 26 Oct Swansea Tn. 1 - 2 Newcastle Utd. Second Division 1934/1935 Sat 16 Feb Newcastle Utd. 5 - 1 Swansea Tn. Second Division Sat 06 Oct Swansea Tn. 3 - 4 Newcastle Utd. Second Division 1914/1915 Sat 06 Feb Swansea Tn. 0 - 2 Newcastle Utd. F.A. Cup Sat 30 Jan Newcastle Utd. 1 - 1 Swansea Tn. F.A. CupSource: FOOTYMAD
