You can use them for loans

Alice lends $26K to Bob (or 1 BTC which he immediately cashes out as $26k USD) and Bob puts up 2 BTC as collateral. Bob can take back his collateral at any time as long as he pays Alice 1.1 btc (you don't need an oracle for this part, you can do it with a combination of SIGHASH_ALL and ANYONE_CAN_PAY, both of which already exist in bitcoin). Alice can take Bob's collateral under two conditions: (1) the oracle says the price of bitcoin dropped by 50% or (2) Bob's collateral is still there after 1 year (because that means he didn't pay back his principle on time -- this second condition doesn't need an oracle either, we can do this part with a simple timelock).

With this loan model, the oracle's role is merely to report whether the price of bitcoin dropped by 50% at any time between when the loan's term began and 1 year later. An oracle could daily announce (1) today's price of bitcoin and (2) his or her intention to report such a drop (if it happens) any time between today and 1 year from today. In that case Alice and Bob don't even need to communicate with the oracle to do their loan. They can just use the fact that he or she starts a new "term" every day and use whatever one is coming up next.