Vinicius Jr missed a chance to win the game with a penalty against a Venezuelan side who played the last minutes of the game down to 10-men after substitute Alexander Gonzalez was sent off for hitting both Gabriel Martinelli and Vinicius in the face in successive plays in the 89th minute.
Five-time World Cup champions Brazil are third in the standings on 17 points, five from leaders Argentina, while Venezuela are seventh on 12 points. The top six sides are guaranteed a berth at the 2026 finals.
The high-paced match saw numerous chances from both sides who registered 11 goal attempts each, with Brazil enjoying over 60 per cent of possession but failing to turn their dominance into goals.
Off the back of successive wins against Peru and Chile, Brazil were dangerous from the start with Vinicius a constant menace, hitting the post in the 20th minute.
Raphinha gave Brazil the lead, netting a fine left-footed strike from a free kick on the edge of the box in the 43rd minute that ricocheted off the left post before finding the back of the net.
It was Brazil's first goal from a free kick in over 19 years in World Cup qualifiers after former Real Madrid fullback Roberto Carlos scored also against Venezuela in 2005.
But Segovia struck an unstoppable first-effort shot from the edge of the box 38 seconds into the second half to level the game assisted by Jefferson Savarino.
But Brazil kept threatening and had an opportunity to get back in front in the 62nd minute when Vinicius was fouled inside the box by goalkeeper Rafael Romo in a counter attack.
However, Romo stopped Vinicius's poorly taken spot kick and the Real Madrid striker also failed to net the rebound, missing wide left of the empty goal. Venezuela then held on to deny Brazil a winner.
"It is just sad because, for me, the most important thing is to win and I think we could have won the match," Raphinha told Brazilian TV Globo.
"We knew it was going to be complicated, their team also has good qualities, but sometimes things get complicated by what happens in the match, when you fail to score the chances you have. We have to keep working to get back to winning ways."
