We study the evolution of the water - oil front for two-phase, immiscible flow in heterogeneous porous media. Our analysis takes into account the viscous coupling between the pressure field and the saturation map. Although most of previously published stochastic homogenization approaches for upscaling two-phase flow in heterogeneous porous media neglect this viscous coupling, we show that it plays a crucial role in the dynamics of the front. In particular, when the mobility ratio is favorable, it induces a transverse flux that stabilizes the water - oil front, which follows a stationary behavior, at least in a statistical sense. Calculations are based on a double perturbation expansion of equations at first order: the local velocity fluctuation is defined as the sum of a viscous term related to perturbations of the saturation map, on one hand, plus the perturbation induced by the heterogeneity of the permeability field with a base-state saturation map, on the other hand. In this companion paper, we focus on flows in isotropic media. Our results predict the dynamics of the water - oil front for favorable mobility ratios. We show that the statistics of the front reach a stationary limit, as a function of the geostatistics of the permeability field and of the mobility ratio evaluated across the front. Results of numerical experiments and Monte-Carlo analysis confirm our predictions.