Oakham failed to become the first side to beat Moulton Harrox this season after missing a string of second half chances on Saturday afternoon.
United fell behind to a penalty conceded by Jamie Forbes but the defender made amends, levelling with a header at a corner soon after.
They fell behind again in the second half and then missed at least four chances that joint boss Pat Johnson called “clear-cut”. And Oakham were made to pay for their wastefulness in front of goal as they fell to their second defeat in a row in the Peterborough League’s top flight.
Johnson said: “It’s very frustrating, especially as they had not been beaten before and we should have come away with the points.
“There was nothing wrong with the overall performance but we missed several one-on-ones and gave away another penalty.
“Worryingly it means we’ve taken one point from nine.”
Oakham: Shane Hicks, Tom Bain, Jamie Forbes, Craig Welbourne, Ben Cox (Tom Gregg), Robbie Dance, Alex Brockbank, Ben Dickenson, Steve Smith (Jamie Twose), Nathan Arkle, Will Lee.
Oakham United Reserves lost 3-0 to Oundle Town in Division One but United’s A team beat Farcet United Reserves 4-1 to go joint top in Division Four.
Jonny Woods and man-of-the-match Matt Perry pulled the strings in midfield, creating chances for Danny Williams, Danny Foster and Rik Phoenix.
Goalkeeper Andy Collin and Martin Owers both denied Farcet before Oakham made their dominance count with five minutes of the first half remaining. Darren Short slipped a ball to Foster who fired home from the edge of the area.
Within five minutes of the restart Oakham were 2-0 up after Woods slipped a pass through to Foster, who poked home from close range.
Five minutes later, Farcet’s keeper hit his goal-kick straight at Phoenix who hit a shot from 25 yards, which struck the bar and went in off the keeper’s head.
Carl Simpson crossed for Gary Rix to head home Oakham’s fourth before Farcet grabbed a consolation with 10 minutes remaining.
Manager Dave Grieve said: “It was one of the best team performances we’ve displayed this season. We controlled the match from start to finish.”