New Project - '71 Plymouth Valiant

so I just notice oil leaking from my sending unit where the black meets the silver ( nut looking ring ) and now my oil light stays on while running. it only drips when engine is running. is it common for them to fail that way? And now they wire is grounded in the sending unit , or could this be a bigger issue? it is a /6 that was rebuilt 2k ago before I got it and the sending unit looks to be new .