My guess is it is condensation also. But to be sure, you have to LOOK AT THE OIL. Everyone here is guessing. You can drain a little engine oil out or unscrew your oil filter cap and peek in at the oil. If it looks like a milkshake, then you got water in your oil. If it looks like normal oil, then chances are that its just normal oil.
Currently own: 1965 Backdraft Cobra Replica, 2013 SVT Raptor, 2009 Scion XB and 2004 Malibu VLX