The correct option is A water in oil
Oil in water (o/w) type : In these emulsions, oil forms the dispersed phase and water, the dispersion medium. For example, milk, vanishing cream, etc. These are also called aqueous emulsions.
Water in oil (w/o) type : In these emulsions, water is in the dispersed phase and oil in the dispersion medium. For example, butter, cold cream etc. are also called oil emulsions.