President Nixon met yesterday with four Arab foreign ministers amid reports of stepped up fighting in the Middle East, increases in U.S. efforts to resupply Israel, and Arab oil cutoffs.

After the 50-minute White House meeting with the ministers of Saudi Arabia, Algeria, Kuwait and Morocco, Nixon told reporters he believes "a fair and just settlement" can be reached in the Arab-Israeli war.

In the war, Israel reported that it fought "the biggest armored clash" in its military history yesterday along the Suez Canal.

Fierce Fighting

Israeli and Egyptian tanks battled along the central and southern Sinai fronts in what Egypt termed "fierce fighting." The Israelis claimed their forces destroyed 60 Egyptian tanks and shot down four planes. Egypt said it inflicted "heavy losses" on Israel.

On the Syrian front, the Israelis remained blocked for the fourth day about 21 miles southwest of Damascus. Syria said it has resumed a counterattack against the Israeli forces which have fought their way 20 miles inside Syria. Syria claimed four Israeli jets shot down in air battles.

The United States has mounted an emergency program to resupply Israel with F4 Phantom jets, tanks, and other war material. U.S. officials said yesterday in Washington that American transport planes are delivering 700-800 tons of equipment a day. Officials also said the Soviet Union is resupplying the Arab nations at about the same rate.