The risk of an eruption at Iceland's Bardarbunga Volcano has increased due to signs of ongoing magma movement, according to Iceland's meteorological office.

The risk level to the aviation industry has been raised to orange, which is the second-highest level.

Any eruption could lead to flooding or an emission of gas, the office said in a statement according to a press release.

"Intense seismic activity" began at the volcano on 16 August, and there was a strong earthquake in the region early on Monday, the met office said. "This is the strongest earthquake measured in the region since 1996.

The Eyjafjallajokull volcano erupted in 2010, producing an ash cloud that severely disrupted European airspace.

The Bardarbunga volcanic system is located under the north-west region of Iceland's Vatnajokull glacier.

"Presently there are no signs of eruption, but it cannot be excluded that the current activity will result in an explosive subglacial eruption, leading to an outburst flood and ash emission," the met office said, adding that the situation is being monitored.

An orange alert indicates that a volcano is showing "escalating unrest with increased potential of eruption," or is erupting without any major volcanic ash emissions.

A red alert means that an eruption is "imminent," or is under way with "significant emission of volcanic ash into the atmosphere."

"It cannot be ruled out that the seismic activity in Bardarbunga could lead to a volcanic eruption," though there are no signs yet of one, the authority said, according to The Wall Street Journal.

Ash clouds produced by the 2010 Eyjafjallajokull eruption led to hundreds of thousands of passengers being affected by flight restrictions. 

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?