Pat Maroon and Connor McDavid each had a goal and an assist for the Oilers (23-28-4), who have lost four straight. Cam Talbot allowed six goals on 39 shots.
"I'd say about four of them I'd like to have back," Talbot said. "Any time you go out and score five goals, you should win a game every night. I didn't give us a chance to win tonight. I liked our battle level, our compete, our resiliency. Every time I let one in, we got one back, but I just couldn't find that next save to give us a chance."
Florida was 3-for-4 on the power play. Edmonton did not have a chance with the man-advantage.
Ekblad scored on the power play at 17:46 of the first period to give the Panthers a 1-0 lead, converting a pass off the end boards from Malgin.
Maroon tied the game 1-1 at 18:35 when he scored from in front on the rebound of a Yohann Auvitu shot.
Leon Draisaitl gave the Oilers a 2-1 lead on a penalty shot at 2:46 of the second period. Ekblad tripped Draisaitl on a shorthanded breakaway.
"It was kind of a weird game, it wasn't exactly a goalies duel," Reimer said. "I don't think either goalie would be too excited about being in a 7-5 game. I just kept digging in and told myself to make the next save and hang in there."