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there is only a minimal difference, mosty how the italics-appearance of the font is generated and which kind of font you prefer to use (if there is a choice at all concerning the fonts in the database of the user agent).
imho, if you don't have to use it (in which case you would know why to use it), you don't need to use 'oblique'.
The css2.1 spec says:
The 'font-style' property selects between normal (sometimes referred to as "roman" or "upright"), italic and oblique faces within a font family.
A value of 'normal' selects a font that is classified as 'normal' in the UA's font database, while 'oblique' selects a font that is labeled 'oblique'. A value of 'italic' selects a font that is labeled 'italic', or, if that is not available, one labeled 'oblique'.
The font that is labeled 'oblique' in the UA's font database may actually have been generated by electronically slanting a normal font.
Fonts with Oblique, Slanted or Incline in their names will typically be labeled 'oblique' in the UA's font database. Fonts with Italic, Cursive or Kursiv in their names will typically be labeled 'italic'.