Battaash 11-8 favourite flopped in the King’s Stand Stakes finishing a disappointing fourth at Royal Ascot on Tuesday.
Roger Teal trained Oxted landed the race under jockey Cieren Fallon, his first career winner at the meeting.
2020 July Cup winner Oxted came into the race to draw alongside defending champion Battaash, the latter having his first run of the season after injury.
Arecibo (28-1) finished second, with American raider and fromthehorsesmouth.info each-way tip Extravagant Kid (18-1) third, under Frankie Dettori.
Battaash, under Jim Crowley, lead two furlongs out only to fade late on, leaving Oxted to go on.
“I’m blessed to sit on a horse like this. They went a really solid gallop and he got a lovely trip. He showed his July Cup win was not a fluke,” said Fallon.