Scunthorpe took the lead through a Rory Fallon header but top scorer Freddie Sears equalised just after the half hour mark.
Clear cut chances were missed by both sides but the U's controlled the game for long periods and would have felt that three points were there for the taking with better finishing.
The U's had the better of the second half but couldn't get the decisive goal.
Unsurprisingly, U’s boss Tony Humes named an unchanged starting eleven after they gained the first home win of the season last weekend.
The first effort of the game came for the hosts, with left winger Myrie-Williams shooting wide of Sam Walker’s goal.
On twelve minutes, the U’s tested Olejnik for the first time as he comfortably fielded a David Fox half volley as a corner was headed out to the U’s midfielder.
Less than sixty seconds later, Freddie Sears repeated the feat as he found the home keeper with a long range effort.
Sears then had the best chance of the game so far, following a move that started with the U’s keeper Walker.
He took a corner and with hardly a look up, found Gavin Massey out of the right in space.
The throw winged its way all the way into the Scunthorpe half and Massey spotted Sears making a great run into the far post area.
A perfect first time cross could have been headed by Sears but after deciding to let it drop for an outside of the foot finish, which bounced down off the underside of the crossbar.
The U’s were left to rue that chance six minutes later, as Rory Fallon rose highest from a Gary McSheffrey free kick to head powerfully past Walker.
It almost got worse for the U’s on twenty five minutes but Madden missed a golden chance when the ball came off Sean Clohessy straight into his path.
He only had Walker to beat but opened his body too much and put his right foot effort high and wide.
The U’s got a deserved equaliser on thirty three minutes, and it was no surprise that it was top scorer Sears who made it 1-1.
A patient passing move led to Sears finding David Fox and when the ball was returned, a great first touch and instant strike flew into the bottom corner.
The closing minutes of the first half saw both side have a sight of goal but Sears put his free kick over and Walker easily saved McSheffrey’s effort.
There was a quiet start to the second period, with neither side testing the opposing keeper.
Watt and Gilbey both dragged shots wide as the U’s looked to take the lead as the hour mark approached.
On seventy one minutes, Walker did have to be alert, even though he wasn’t having too much to do, as he saved from Madden’s effort.
A minute later, Humes made his first substitution as Rhys Healey replaced Watt - and the loanee was straight into the action.
He cut inside onto his favoured right foot but failed to test Olejnik with his curler.
Gavin Massey then followed suit, pulling his shot wide from the edge of the penalty area after more good build-up play.
Despite their dominance, the U’s had a let-off on seventy eight minutes as Madden latched onto an Eastman misplaced header.
There looked to be some contact from Frankie Kent as the Scunthorpe forward hesitated and the ball rolled into Walker’s hands.
A minute later and the U’s had a glorious chance themselves, with Massey and Moncur both guilty of failing to find the target with efforts.
Sammie Szmodics came on for George Moncur but the change didn’t upset the U’s rhythm and they finished the game the stronger.
Sears shot at the keeper with a minute to go and then Olejnik tipped a Healey shot onto the outside of the post and away to safety.
The final whistle went with the score at 1-1 - it was a good point for the U’s but it was a performance worthy of an away victory.