At 20:03 UTC an earthquake swarm started in Kverkfjöll volcano. The strongest earthquake so far has the magnitude of ML2.6, the depth is 1.1 km according to automatic estimate. Both size and depth of this earthquake are expected to change once it has been reviewed by Icelandic Meteorological Office. So far no harmonic tremor has been detected following this earthquake swarm. The most likely explanation for this earthquake swarm is that dike intrusion of magma has started in Kverkfjöll volcano. This has been happening on regular basis now for several years.
The earthquake swarm is currently ongoing. It is hard to know what happens in Kverkfjöll volcano following this earthquake swarm. But Kverkfjöll volcano are among Iceland most active volcanoes. With last eruption being in the year 1968 (small I think). This is clearly magma on the move inside Kverkfjöll volcano. But I do not know if this is going to result in a eruption or not. At the moment. It is my estimate that eruption is unlikely to happen. But that might change without warning at any time. But changes in Kverkfjöll volcano might be rapid and without warning. I am going to continue to monitor this activity and post new blog post if there are any major changes in activity in Kverkfjöll volcano.