In the reaction between iron and oxygen in the presence of water, iron transfers electrons to oxygen. This process is known as oxidation-reduction (redox). In this context:
- Oxidation is the loss of electrons, which occurs with iron as it loses electrons and becomes oxidized.
- Reduction is the gain of electrons, which occurs with oxygen as it gains electrons and becomes reduced.
Thus, the correct statement among the options provided is:
• Oxygen is reduced, and iron is oxidized.
In addition to this, since iron is losing electrons, it acts as the reducing agent, but the question specifically asks for which statement about the reactants is correct, so that first choice is the main focus.