Packaged emulsions contain water in oil compositions, i.e. where the water solution of oxidizers is dispersed evenly between the oil phase. A surfactant (emulsifier) is used to ensure that the oxidizer remains dispersed in the fuel. A density-reducing agent is added to make the product detonator sensitive. As a result of the intimate blend of the oxidizer and the fuel and the fine particle size, emulsions have a higher velocity of detonation than slurries. These products have excellent water-resistant properties.