I have a 1967 Ford Mustang with a 289 small block V8. It had been sitting in the garage for a while (years, actually), so I did a fluid refresh, changed the fuel, changed the oil, and changed the coolant. After fixing an air pocket in the fuel line I was able to get it running and driving and everything seemed fine.
The Problem
However, when I got home I checked the oil level and found it was very high. I thought perhaps I'd added way too much oil on accident, so I changed the oil again, drove the car again, and found the oil level had risen again.
Possibilities
As far as I know there can only be two places additional fluid could be coming from. Either coolant is entering the oil, or fuel is entering the oil. The liquid in the oil pan is not milky. I've smelled it, and it smells like motor oil, perhaps tinged with the smell of gasoline. I tried burning some, but it didn't ignite, so if the additional fluid is gasoline there isn't enough to burn well. I have to conclude it's fuel in the oil, but I'm not sure how to confirm this.
More importantly, how could gasoline be getting into the oil? Besides sitting for a long time, the engine was essentially brand new (it was totally rebuilt in 2010), so there can't be any real damage besides whatever stagnation can cause. I've wondered if perhaps the piston rings are stuck closed and fuel is bypassing the rings as it enters the cylinders while it's running, but the amount of rise in the oil level is significant and the engine doesn't act like it's starved for fuel.
The Ultimate Question
Could there be any other fluids that could be contaminating my oil? If it is fuel, how is it getting into the oil? And most importantly, what do I do to prevent it from happening in the future?