Iceland’s third volcanic eruption in the span of two months was subsiding on Friday, with only steam now rising from the snow-covered ground where fountains of bright orange lava had spewed a day earlier. The number of earthquakes that accompanied the eruption has also decreased significantly in the past 24 hours, authorities said. Lava began gushing out of 3-kilometre-long fissure in the earth south-west of the capital Reykjavík on Thursday morning. The molten rock flowed around four and a half kilometres to the west, crossing a road near the famed Blue Lagoon geothermal spa. Parts of the Rey…