This article tries to examine and study the impact of the Israel-Iran conflict on conventional energy, such as oil and gas, metal markets including gold and silver, and the military industry through the event study. The data collected has demonstrated a significant increase in the metal market. Through AR, CAR, AAR and CAAR, this article finds out that conflict had significant and long-term impact on metal market, since all of them are significant. However, in the conventional market, whose ARR and CARR are significant, it also had an impact but just temporary. In addition, in military industry, only the event day’s AAR is significant, there is no evidence indicating that the conflict had impact on it.