Can I update an Access table with an Oracle table? I have an Access database with a table with a unique key and price field among other fields.  I have been told I have access to an Oracle database with those prices in it and the linking Key.  

Can I run an update query in Access to update those price fields with values in the Oracle table or do I need to import the Oracle table into Access first and then run the update query from that access table?

I'm pretty well up on Access but have never had to link it with another SQL database system.
It's been a long, LONG time since I did any Access development, but if Access still supports linked tables, you can.  

In that case the linked table is really just a view (select * from some_schema.some_table_in_oracle) and you can write an Access query that you use to update the Access table using the linked Oracle table.