Steven Gerrard believes Liverpool's 4-4 draw with Arsenal at Anfield could have yielded a 'big point' for the Merseyside club.

Andrey Arshavin's four goals appeared to have all but ended the Reds' championship hopes despite strikes from Fernando Torres (two) and Benayoun, but the Israeli struck again deep into injury-time to at least put the Merseysiders on top for 24 hours.

Liverpool are now level with Manchester United, albeit having played two games more, and Gerrard told Sky Sports: "They have a fantastic team and you look at their run-in, look to see where they are going to drop points

"It would have been very difficult if we'd lost the game.

"I think that point could be big"

Gerrard, who did not play on Tuesday night due to injury, added: "It's not like us to concede that many goals like we have tonight. We're normally sound defensively, especially at home."

"We'll have to wait and see how big that point could be for us.

"Performance-wise, at times we were very good. Torres and Benayoun were frightening going forward.

"Now we need United to get beaten which is difficult to do because they're a good team. But there are still twists and turns left."