**Core Concept**
The management of bleeding oesophageal varices involves the use of medications that reduce portal pressure and promote hemostasis. The drug of choice should act rapidly to control bleeding, while also preventing further episodes.

**Why the Correct Answer is Right**
Octreotide is a synthetic analogue of somatostatin, a hormone that inhibits the release of vasodilatory substances from the splanchnic circulation, thereby reducing portal pressure. By decreasing portal pressure, octreotide helps to control bleeding from oesophageal varices. Its rapid onset of action and ability to prevent further bleeding episodes make it the preferred treatment for this condition.

**Why Each Wrong Option is Incorrect**
**Option A:** Ethanolamine oleate is a sclerosing agent used to treat oesophageal varices by inducing fibrosis and obliteration of the varices. However, it is not used to control acute bleeding episodes and is not the drug of choice for this indication.
**Option C:** Propranolol is a beta-blocker that reduces portal pressure by decreasing cardiac output and splanchnic blood flow. However, its effect is slower and less pronounced compared to octreotide, making it less suitable for acute management of bleeding oesophageal varices.
**Option D:** Phytonadione is a form of vitamin K used to reverse coagulopathy due to warfarin therapy. It is not relevant to the management of bleeding oesophageal varices.

**Clinical Pearl / High-Yield Fact**
Remember that octreotide is also used to treat acute variceal hemorrhage in patients with cirrhosis, and its administration should be accompanied by endoscopic and pharmacologic measures to prevent re-bleeding.

**✓ Correct Answer: B. Octreotide**