It took the visitors just 15 minutes to break the deadlock as Bakary Sako found space inside the box to fire home what would prove to be the winning goal.
Fulham struggled to produce a response to the early setback, and it was Wolves who wasted the best chance in the second half when Sako's penalty was saved by Jesse Joronen in stoppage time.
Read below to find out how the drama unfolded in the Championship clash.
7.30pmGood evening everyone. It was an action-packed night of Championship football last night, but there's still one more game left of the midweek schedule. Fulham, looking to finally adjust to life in the second tier of English football, host Wolverhampton Wanderers at Craven Cottage. Kickoff is in 30 minutes.
7.33pmTeam news is on the way in just a few moments. There's a couple of surprises from Felix Magath as Fulham search for their first point of the season, but I can confirm that £11m signing Ross McCormack is back in the starting lineup.
7.40pmThere's no place in the Fulham side for Hugo Rodallega as McCormack returns in attack alongside Cauley Woodrow. Magath has decided to give a debut to Mark Fotheringham, while Sean Kavanagh makes his first senior start for the club.
7.43pmIt's as expected from Wolves, with Kenny Jackett choosing to keep faith with the 11 players who were beaten 1-0 by Rotherham United on Saturday afternoon. One win and one defeat so far for Wolves. Can they climb into the top half of the table tonight?
7.46pmIt could be a nervy night inside Craven Cottage. It's surely too early in the season to be panicking, but two defeats from the opening two matches for one of the favourites to be promoted simply isn't good enough. The pressure is on Magath's shoulders. He can't afford another disappointing result.
7.52pmMost Wolves supporters might be happy with a safe mid-table finish after last season's promotion, but there seems to be a common feeling that Jackett's side could aim for a better achievement. That defeat to Rotherham brought the side back down to earth following their win over Norwich City on the opening weekend, but they'll certainly be quietly confident again tonight.
7.55pmPREDICTION: As I've mentioned, it really is a big night for the hosts, and I think the returning McCormack could make the difference this evening. Wolves won't go down easily, but I'll go for a 2-1 victory for Fulham.
7.57pmHere we go then. The players are on their way out onto the pitch for the start of this match. Kickoff is just three minutes away.
1 minJust a slight delay before kickoff, but we're underway now at Craven Cottage. Plenty of noise already from both sets of supporters.
3 minSteady start to the game from both sides, with no chances to report as yet, but there's a big round of applause from the home supporters when Woodrow tracks back to dispossess Sako as the Wolves forward threatened to set up an attack.
5 minEarly venture forward from full back Konstantinos Stafylidis. The space opens up for him, but his low strike is deflected behind for a corner, which is easily cleared by the Wolves defence.
7 minYELLOW CARD! I'm sure he felt the nerves before walking out onto the pitch, but debutant Sean Kavanagh is under a bit more pressure now as he picks up a yellow card for a late challenge on Van La Parra.
8 minWolves are coming into the game now, with Sako looking to get on the ball as much as possible. He whips a dangerous delivery into the box, but Edwards fails to beat his markers to the ball.
9 minSHOT! Great effort from Edwards. The Welsh midfielder finds space on the right, and he is allowed to carry the ball forward before firing his shot just past the post.
11 minYELLOW CARD! Magath won't be happy with this. Fotheringham becomes the second Fulham player to receive a caution after chopping down Sako, who then gets up to watch his free kick tipped over the crossbar by Joronen.
13 minKenny Jackett will be delighted with what he's seen from his side in the early stages. Sako, in particular, has looked in impressive form, and we've barely seen anything from Fulham's attacking players.
14 minGood goalkeeping from Joronen as the Fulham shot-stopper sprints off his line to deny Van La Parra, who had beaten the offside trap.
16 minI mentioned that Wolves had started well, and that Sako was looking dangerous. So it's no surprise to see him break the deadlock in emphatic fashion as he watches Edwards dummy a corner before drilling the ball home. Great strike, and it's no more than Wolves deserve.
17 minWe finally see McCormack get involved as he find space on the right to win a corner, but Fulham's set-piece doesn't have the same impact as the one just a few moments ago, with the visitors clearing the delivery.
19 minStafylidis always seems to be keen to get forward, but he once again fails to add a finishing touch as the full back sends an effort over the crossbar from the edge of the box. Fulham's supporters are far from happy with the start made by their side.
21 minRoberts picks up the ball in space before splitting the Wolves defence to find McCormack, who fails to pick out another of his teammates with a poor cross into the box.
23 minJoronen is alert again as he is forced to come off his line to collect Van La Parra's cross as the winger looked to find Doherty in space inside the box.
26 minIt's been a real struggle for Fulham to enjoy spell of extended pressure, with Wolves looking calm in defence and passing the ball around impressively. Magath's side are playing like the away team at the moment.
29 minExcellent defending from Richard Stearman as he twice makes vital interceptions to deny McCormack, before clearing a dangerous looking cross from Kavanagh.
31 minFulham seeing plenty more of the ball in the past few minutes, but they're certainly lacking a cutting edge. McCormack is being dealt with pretty easily by the Wolves defence whenever he finds a yard of space.
32 minWolves break in numbers at pace, with Edwards seeing a shot deflected behind for a corner. It looks like Evans may meet the corner which follows, but Fulham manage to clear the danger.
33 minDicko has been a periphery figure for long spells of the first half, but he's involved finally as he tangles with Nikolay Bodurov. The referee ignores the few shouts for a penalty from the away end.
36 minKavanagh started his debut with an early booking, but he's looked pretty comfortable since that error. The youngster has looked composed on the ball, and makes a crucial interception to bring a Wolves attack to an end.
38 minCHANCE! It could have been two for Wolves. Sako causes problems with another inviting cross into the box from a free kick, and Batth rises highest to head just wide of the target. Inches away a second for the visitors.
42 minSako has been everywhere tonight. The goalscorer collects the ball in space once again, and Joronen has no choice but to flick his cross behind for a corner. Batth meets the corner again, but he can't divert his header towards goal.
43 minNothing but frustrated sounds coming from the home supporters as Fulham continue to struggle to assert any kind of dominance in this game. It's been difficult to see how the hosts can break Wolves down. A lack of pace and ideas in the final third has been the big problem.
44 minExcellent defending from Burgess as he gets in front of Dicko to head Van La Parra's dangerous ball to safety, with the home crowd appreciating the efforts of the defender as Fulham regroup again.
45 minThe fourth official confirms that there will be two minutes added on.
45+2 minVery little to report from the couple of minutes of stoppage time as Wolves continue to impress at both ends of the pitch.
8.53pmWolves are on their way to a second win of the season as the players head inside for the interval. Quite simply, it's not been good enough from Fulham and the home supporters make their feelings clear after the half-time whistle. Sako's strike separates the two sides.
8.57pmHow will Magath react at the break? Are there changes coming from the Fulham boss? Hugo Rodallega would provide some extra pace in attack, but the German could be tempted to turn to the 18-year-old Moussa Dembele for a creative spark.
8.59pmIn the other changing room, Jackett will be overjoyed. Wolves were perhaps slightly unlucky to lose to Rotherham on the weekend, but the same 11 players from that defeat have responded impressively. Edwards and Van La Parra have been heavily involved, while Sako is head and shoulders above everyone else on the pitch.
9.01pmPaul Gorst's half-time report is now live, so you can read a full recap of the opening 45 minutes at Craven Cottage.
9.06pmBoth sets of players are back out on the pitch. Fulham's fans will want to see a big improvement. Another loss will pile the pressure on Magath.
46 minThe second half is underway. Surprisingly, no changes from Fulham, and Wolves are also unchanged.
47 minEarly concern for Wolves as Edwards goes down in pain, but I think he should be fine to continue following some treatment.
50 minSUBSTITUTION: Most of the football has been played in midfield early in the second half, with no chances to report. Magath makes his first substitute as Fotheringham makes way for Dembele.
52 minSAVE! Dembele involved immediately as he takes the ball past a couple of players before forcing Ikeme into a good save with a powerful strike from the edge of the box. Wolves clear the corner which follows.
54 minWolves win a corner of their own, but it comes to nothing as Sako finally fails in his attempt to pick out a teammate. It's been a solid start to the second half from both sides, with Fulham looking slightly more threatening.
55 minDecent spell of pressure from Fulham as they win a couple of set pieces, but Wolves look calm at the back once again. Magath needs to see more of Woodrow and McCormack.
57 minCHANCE! Another chance goes begging for Wolves. McDonald delivers an excellent cross to the back post to find Doherty, who heads just over from close range. Will the visitors regret that miss?
57 minCHANCE! Another chance goes begging for Wolves. McDonald delivers an excellent cross to the back post to find Doherty, who heads just over the crossbar from close range. Will they regret that miss?
60 minSHOT! A loose ball drops to McCormack on the edge of the box. The Scot connects with his effort well, but the ball sails over.
62 minIt's end-to-end now as Sako's cross just evades his teammates before Woodrow becomes the latest Fulham forward to strike over from the edge of the box. There should be more goals in this game.
65 minWolves are looking very confident when they do shift the ball forward. A chipped pass over the top almost reaches Dicko, who is forced to watch the ball drift out of player. It's been very even in the second half.
66 minSHOT! Van La Parra has been very impressive this evening, and he comes close to capping off an excellent display with a goal as he cuts inside before firing just wide of the post.
70 minVan La Parra's foul on Roberts gifts Fulham a free kick 30 yards from goal. McCormack's delivery is a good one, but Wolves manage to clear the ball behind for a corner.
71 minIt's poor from Fulham as they waste a good spell of pressure when Stafylidis clears all of his teammates with an awful corner. The hosts are running out of time to level the scores.
73 minYELLOW CARD! Stafylidis is correctly booked after bringing down Van La Parra as the Wolves winger attempted to set up an attack for the visitors.
75 minFulham on again for a brief period, but it's more disappointment as a dangerous ball is plucked out of the air by Ikeme. That's superb goalkeeping under pressure.
77 minCHANCE! Batth has been a threat going forward for set pieces throughout the night, and he perhaps should have added a second for Wolves. Joronen is off his line in an attempt to collect a corner, but he breathes a sigh of relief as Batth heads over.
79 minYou have to salute Wolves. Jackett's side could be forgiven for sitting back and defending their lead, but they seem determined to extend their advantage late on.
81 minSUBSTITUTION: Magath turns to the bench for the second time as Rodallega comes on to replace Woodrow.
82 minExcellent pass from Sako to find Dicko, who looks set to unleash an effort at goal before Burgess reacts to make a fine tackle inside the box.
83 minVan La Parra and Doherty have combined well all evening, and the latter comes close to securing the win for the visitors as he drills a shot wide of the target from a tight angle. Superb attacking play from Wolves.
84 minIt's no surprise to see Van La Parra involved again as he steals possession from Fulham before sending a wayward strike into the stands behind the goal. Six minutes plus stoppage time remaining.
86 minSUBSTITUTIONS: One final change for Fulham as Kavanagh jogs off to make way for Ryan Williams. Jackett then replaces Van La Parra with Michael Jacobs.
88 minIt's getting tense at Craven Cottage, but it's not the Wolves players who are showing signs of nerves. Magath will not want to hear the jeers that await him if Fulham fail to find a late equaliser.
90 minIt's good news for Wolves that we've seen very little action in attacking areas in the past few minutes. The fourth official confirms that there will be just three minutes added on.
90+1 minPENALTY! Wolves have a chance to finish the game off. Burgess is adjudged to have fouled Dicko inside the box. Is it a third successive defeat for Fulham?
90+3 minSAVE! There's a delay before the penalty can be taken, and that doesn't help Sako, whose effort is superbly tipped onto the post by Jornen. Excellent stop, but there's very little time left in the match.
9.58pmIt's all over at Craven Cottage. Fulham are unable to respond, despite a late miss from 12 yards by Sako, whose 15th minute strike has handed all three points to Wolves. It's boos from the home supporters. Three losses from three games for Fulham. Magath will be feeling the pressure.
9.59pmExcellent away performance from Wolves, who climb into the top half of the table, while Fulham remain 23rd as the wait for the their first points goes on. Thanks for joining me tonight. I hope you've enjoyed the coverage from Sports Mole. Goodnight.