The waves are waves traveling through the surface of seas, oceans, rivers, lakes, canals.
The first oscillation means is moved by the wave, which in this case, as we have seen, is a circular motion. The second is the wave propagation which occurs because the energy is transmitted with it, transferring the phenomenon with a direction and speed, in this case called wave speed.
Actually a small net displacement of water in the direction of propagation occurs, since in each oscillation a molecule or particle does not return to exactly the same point, but another slightly forward (relative to the direction of wave propagation). It is for this reason that only the wind does not cause waves, but also surface currents.