Some Arab analysts have begun to argue that King Hussein could conceivably emerge in a strong position from the gulf war. President Hussein, his powerful neighbor, has been destroyed, Yasir Arafat, chairman of the Palestine Liberation Organization, is widely viewed as discredited, and the Americans are likely to refocus on finding a solution to the Palestinian problem that plagues his country as well as Israel. "The U.S. and Arab allies may well conclude that he is the best they can do in the region and that he must be shored up," one Saudi analyst said.

An Israeli official said that Mr. Peres and King Hussein have previously had more than 100 hours of private meetings. Jordanian officials, who have long said that Palestinians must decide who should represent them, have always denied that direct contactswith Israelis have taken place. Mr. Peres, in Israel, denied the first report of such a signal from King Hussein, which appeared a few days ago in the Israeli newspaper Maariv. But a senior Israeli official, familiar with previous discussions between the King and Mr. Peres, insisted that the report was accurate. New Plan From Peres

On Thursday, Mr. Peres floated a new peace plan that provides for a joint Jordanian-Palestinian negotiating team. Prime Minister Shamir, for his part, is suggesting reviving his original peace plan, which calls for autonomy for Palestinians in the West Bank and Gaza and for elections in those territories.

Representative Stephen J. Solarz, Democrat of Brooklyn, who visited Amman last week, said senior Jordanian officials expressed interest in resuming the effort to put together a Jordanian-Palestinian delegation that could negotiate with Israel. That effort failed because, among other reasons, Israel insisted that no members of the P.L.O. be part of the delegation. "I had the strong impression in Amman that King Hussein is willing to play an active and prominent role to deal with the Palestinian problem if the Palestinians in his country are willing to let him do that," Mr. Solarz said.

President Bush recently characterized past relations with Jordan as "very pleasant," adding, "I have no personal animosity towards His Majesty the King."