Oil stocks, Bed Bath & Beyond, Visa and more

Take a look at some of the biggest premarket changes:

Chevron, Exxon, Phillips 66 – Oil stocks rose significantly in premarket trading after energy prices soared overnight and US benchmark West Texas Intermediate crude briefly hit $130 a barrel. Chevron and Exxon Mobil were up more than 1% each, while Phillips 66 was up 3.4%. Shares of ConocoPhillips rose almost 2%, while shares of Baker Hughes jumped 4%.

Bed Bath & Beyond – Shares in the home improvement retailer rose 70% in premarket trading on Monday after GameStop chairman Ryan Cohen revealed he owns almost 10% of the retailer through his investment firm RC Ventures. Cohen said the company should explore selling itself to private equity and spinning off its BuyBuy Baby chain.

Archer-Daniels-Midland – Shares of a farming company jumped 3.9% in premarket trading as crop prices jumped amid supply problems due to Russia’s invasion of Ukraine.

Visa, Mastercard – Shares in payment processors tumbled in premarket trading after both companies announced over the weekend that they were suspending operations in Russia. Visa shares fell 2.2% and Mastercard shares fell 1.7%.

Occidental Petroleum – Shares in the oil and gas company jumped 8% after a regulatory report showed that Warren Buffett’s Berkshire Hathaway recently increased its stake significantly. The conglomerate bought more than 61 million shares of Occidental between Wednesday and Friday at prices ranging from $47.07 to $56.45. Berkshire now owns 91.2 million shares of the oil giant’s common stock.

Whiting Petroleum, Oasis Petroleum – Shares of Whiting and Oasis rose in premarket trading after the companies announced a merger agreement. The new company, with an estimated enterprise value of around $6 billion, will be owned by 53% Whiting shareholders and 47% Oasis shareholders, according to a press release. Whiting shares rose 4.9%, while Oasis shares jumped more than 6%.

Citigroup – The bank’s shares fell 2.8% in premarket trading, trailing their peers after receiving a downgrade from Jefferies. The firm said it is unlikely that Citi will meet the financial targets set out at last week’s investor conference.

— CNBC’s Maggie Fitzgerald, Yun Li and Hannah Miao contributed to this report.