The action early in the game went at a slow pace as both teams had trouble finding their legs after the 75-minute pre-game ceremony honouring Mark Messier.
Edmonton had a power play chance early on thanks to Rangers forward Ville Nieminen. After being sent off for tripping, Nieminen sprung from the penalty box and broke in on Markkanen. After being upended by Chris Pronger, he crashed into the Oilers goaltender, sending New York on the man advantage.
At the conclusion of the power play, Steve Rucchin fanned on a shot in the slot that tipped in off Bergeron's stick and beat Markkanen low blocker side. The assist went to Petr Sykora, who had a nice backhand feed from behind the Oilers net.
Near the end of the period, Jarret Stoll looked to have scored but his low shot rang off the far post.
Action was slow going early on due to the hour-long Messier ceremony but action picked up as the period went on.
Shots on goal in the first period were 10-6 in favour of the Oilers as they trailed New York 1-0 heading into the intermission.
Early in the second, Chris Pronger was impeded by Jaromir Jagr on a breakaway, leading to a Rangers penalty. MacTavish called Jagr on an illegal stick curve to make it a two-man advantage. However, the advantage was pared down to a 4-on-3 after Horcoff was called for boarding shortly after.
On the 4-on-3 advantage, Peca wired a one-timer from the left point for his sixth of the season to tie the game at 1-1.
As the second period hit the midway point, the Oilers ran into some penalty trouble but was able to weather the Rangers' power play storm. Ales Hemsky
was sprung from the box following a New York two-man advantage by Shawn Horcoff
on a clear-cut breakaway. Lundqvist stopped the intitial stop but the craft Oilers forward outwaited the Rangers netminder before roofing it to give Edmonton a 2-1 lead.
The Oilers went back on the power play two minutes later and increased their lead to 3-1. Jarret Stoll rifled a pass across the slot to Bergeron who one-timed it in.
New York finally clicked on their seventh power play of the game. Fedor Tyutin blasted one from the high slot that Markkanen never saw to make it a 3-2 game.
Good forechecking deep by the Rangers resulted in New York's second goal in 2:04 to tie the game at 3-3. Steve Rucchin battled Ryan Smyth
in the corner before clearing it behind the net. Jason Smith intercepted it but his clearing attempt was picked off by Petr Prucha. Prucha fired it on net and Sykora was right there to put home the rebound.
Edmonton had a sizeable shot advantage, 21-14 after two periods.
The Rangers made it 4-3 as the Rangers power play expired early in the third as Petr Prucha backhanded a shot high short side behind Markkanen as he broke toward the net.
Edmonton continued to run into penalty trouble as the period hit the midway point. Fernando Pisani was sent off for interference six minutes into the third giving the Rangers their tenth man advantage but during the penalty, the Oilers scored their second shorthanded marker of the evening.
Ethan Moreau drove to the net with a backhand attempt. After running into Lundqvist, Peca was right at the doorstep to flip it over the fallen New York netminder making it a 4-4 game.
After regulation time, the game was tied 4-4 which meant the two teams would play some overtime. Shots through three periods were 30-21.
Prior to the game, the Rangers honoured former Oiler Mark Messier by retiring his number 11... The Rangers are now 2-2 on banner nights. The other Rangers with numbers retired are Eddie Giacomin (#1), Rod Gilbert (#7) and Mike Richter (#35)... With three minutes left in the first, Oilers trainer Ken Lowe had to be helped to the Edmonton dressing room after slipping on a step in the Oilers bench and spraining his ankle... Tonight was the fourth time this season the Oilers had 10 or more penalty kills with the Rangers going 1-for-10.