Wired.com: In a study published in Nature, researchers led by Brown University geologist Alberto Saal found evidence of water molecules in pebbles retrieved by NASA's Apollo missions.
The findings point to the existence of water deep beneath the moon's surface, transforming scientific understanding of our nearest neighbor's formation and, perhaps, our own.
The finding of water in the Lunar rocks bodes well for potentially self sufficient outposts or colonies of humans on the Moon.
Such water can be used to provide oxygen and hydrogen by electrolytic dissociation, and if present in great enough quantities, it may be used for rocket fuel, oxygen for breathing, and water for drinking, greenhouse based crop irrigation, hygiene, and other industrial processes.
The hydrogen might be utilized for any nuclear fusion reactor developed for electrical energy generation. Note also, that the Lunar Regolith appears to have significance amounts of Helium-3 isotope which may prove much easier to fuse in future fusion reactors for powering Lunar Colonies and be of use in transport back to Earth for commercial and industrial power production.
I think its too early to predict whether there is easily available water on the moon suitable for an outpost. The most important aspect of this story is the re-evaluation of our current theories over the Moon’s formation.