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Earthquake swarm on Reykjanes Ridge 70 km offshore SW Iceland indicates possible magma intrusion
Location of the seismic swarm on 8 Feb 2012 (Icelandic Met Office)
Wednesday, Feb 08, 2012
A seismic swarm has occurred on the Reykjanes Ridge 70 km offshore the SW tip of Iceland. About 40 earthquakes with magnitudes mostly between 2 and 3 ... [more]

Reykjanes volcano

Crater rows 230 m / 755 ft
Reykjanes peninsula (SW Iceland), 63.89°N / -22.52°W
Current status: restless (2 out of 5)
Reykjanes webcams / live data
last update: 8 Feb 2012 (Earthquake swarm 70 km SW offshore Iceland on the Reykjanes Ridge)
Typical eruption style: Effusive (lava flows)
Reykjanes volcano eruptions: 1211, 1226
Reykjanes volcano in SW Iceland is located where the Mid Atlantic Ridge emerges onto land. It forms a vast area with many eruptive fissures, lava fields, hot springs and mud pools. In 2000, a large earthquake lowered the water level in Lake Kleifarvatn by 5 metres, but has gradually returned to normal since then.

Background:

The Reykjanes volcanic system at the SW tip of the Reykjanes Peninsula, where the Mid Atlantic Ridge rises above sea level, comprises a broad area of postglacial basaltic crater rows and small shield volcanoes.
The Reykjanes volcanic system is the westernmost of a series of four closely-spaced fissure systems that extend diagonally across the Reykjanes Peninsula. Most of the volcanic system is covered by Holocene lavas and eruptions have occurred in historical time during the 13th century at several locations on the NE-SW-trending fissure system.
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Source: GVP, Smithsonian Institute