Seems to be closer to 6925.3 or 6925.35 kHz with a little bit of drift with the AM modulation levels. So very minor FMing, in other words. Still decent audio, although the pescadores on 6925 LSB (and to a lessor extent, 6930 LSB) aren't making things any easier.
2222 UTC - has slid down to 6925.25 or so, signal up considerably, can't hear the 6925 LSB boys any longer
2226 UTC - Sting - Fields of Gold SIO 333 or so, some fading but sounding much better than it was at 2215 UTC
2228 UTC - signal back down to previous levels, but still listenable (I'm listening on a NY-based remote receiver)
2235 UTC - a carrier is popping up on 6924.9 kHz or so, keying on and off
2237 UTC - the Portuguese chatter on 6925 LSB is breaking back through again
2238 UTC - Jackson Browne tune (a bit stronger now but still suffering from QRM)