It may have been a fair result but it wasn’t one either manager wanted, with Queens falling to three points off bottom and Morton only a point better off.
Gary Naysmith, the Dumfries side’s manager, said: “I think we played well. We need to look at the positives – it’s another game, we’ve got another point. But we should’ve had more than five points from our last three games.”
The visitors started brightly as Jack Iredale burst down the left to force a chance but Gary Oliver’s close-range strike was blocked by Michael Doyle after a low Greg Kiltie drive had been parried his way.
The deadlock was broken four minutes from the interval and Jacobs’ 25-yard strike was worth the wait.
After patient play, the Queens midfielder drove a beautiful strike into Robby McCrorie’s goal, giving the Rangers loanee no chance.
However, the Greenock side hit back after the break when Telfer saw his shot go in off the post to beat Jack Leighfield.
Morton manager Jonatan Johannson said: “Queen of the South were the better team from the second half. Away from home, from half time onwards you take a point.”