Romans 3:1-2

1 What advantage then has the Jew, or what is the profit of circumcision?

² Much in every way! Chiefly because to them were committed the oracles of God.

The opening question is saying “What is the advantage of being a Jew if Jews are lumped with heathens in guilt?” It’s a follow-up to Paul’s conclusions in chapter 2.

The Jews were entrusted with the reception, inscription, and transmission of God’s Word. Other advantages are mentioned in Romans 9:4-5 — Who are Israelites, to whom pertain the adoption, the glory, the covenants, the giving of the law, the service of God, and the promises; of whom are the fathers and from whom, according to the flesh, Christ came, who is over all, the eternally blessed God. Amen.

Oracles = utterances = the Law and other revelation in the Old Testament and the right to worship God that went along with it.