Corporal Oakley was a member of the 1st Airborne Ranger Company, 11th Airborne Division. He was Killed in Action while fighting the enemy in South Korea on 22 February 1951.

Oakley was awarded the Purple Heart, the Combat Infantryman's Badge, the Korean Service Medal, the United Nations Service Medal, the National Defense Service Medal, the Korean Presidential Unit Citation and the Republic of Korea War Service Medal.