Ford Repair: engine noise and oil smell 1992 ford van, oil gauge, v8 engine

Question
i have a 1992 ford e-150 van with a 302 v8 engine it runs great but there is a engine noise like dry bearings when running, its loudest when i first start it and quieter as i drive.  there is also a strong smell of oil after ive driven a while. i have not noticed any leaks or oil consumption, and visualy everthing looks great. there are no other problems and all gauges read normal. what could be causing this.

Answer
Hello and thanks for the question...I'll try to help.
With out seeing the vehicle or hearing the noise I couldn't guess at it. I would suggest that you put a mechanical oil gauge on it and really verify that the oil pressure is good. Also, IF there is a smell of oil, I would take a closer look at the engine. Oil only leaves and engine in one of two ways. It either leaks out or is burned out.
Hope this helps,
Erik