This morning a earthquake swarm started east of Grímsey Island. This is activity in TFZ area that possibly has two active volcanoes (GVP information). This is however most likely just a normal earthquake activity taking place now in this area of Iceland. The largest earthquake in this earthquake swarm was a magnitude 3.1 earthquake that took place at 11:35 UTC.
This earthquake swarm might continue for the next few hours. With the possibility of more earthquakes reaching magnitude 3.0 or larger. But it is common for earthquakes swarms in this area to just stop over period of few hours. The largest earthquake in this earthquake swarm was not felt according to the news.
Icelandic news about this earthquake swarm