Try this:
#oval-shape {
width: 200px;
height: 100px;
background: blue;
-moz-border-radius: 100px / 50px;
-webkit-border-radius: 100px / 50px;
border-radius: 100px / 50px;
}
Notice the ratios in the corner values in relation to the height.
Demo - http://jsfiddle.net/XDLVx/