Today (18 October, 2011) at 08:53 UTC a earthquake swarm started in TFZ. So far this earthquake swarm is small in nature, only about dozen earthquakes so far. But the largest earthquakes have been with the size of ML3.6 according to IMO automatic earthquake detection system (called SIL). There is a good chance that this earthquake swarm is going to continue for the next few hours. But it is hard to know that for sure at the moment.
The area with the earthquake activity in Tjörnes Fracture Zone (TFZ). Copyright of this picture belongs to Iceland Met Office.
There are no volcanoes in the area where this earthquake swarm is taking place.
Blog post was updated at 11:58 UTC on 18 October, 2011