The most common and most likely answer to this crossword clue is the 6 letter word RIYADH
R
I
Y
A
D
H
More clues leading to the result RIYADH
- Translation of Hardy located around one Arab city
- Capital invested originally in Hardy hit
- Each day Iran backed capturing foreign capital
- Hard day Inland Revenue turned up for capital
- To some extent each day I reflect back on foreign capital
- During fourth day, Irene reviewed capital abroad
- Hot period I relish initially after turn in ME capital
- Arabian capital investment originally in Hardy novel
- Commonwealth Day, Irish Guards raised capital
- Brainy Saudi, he periodically abandoned home city?
Buddy explains!

The straight part
We know that "Oasis city" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case oasis city = riyadh.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.